Nine O'clock reported that Transdanube Industries will begin the construction of a steel mill worth EUR 150 million in Romania's Oltenita on the Danube. Partners in this investment are the Danieli Group of Italy, Millenium BCP Bucharest and the Institute of Power Studies and Designs.

The steel mill will be ready two years later and will have a capacity of 500,000 tonnes of liquid steel and 450,000 tonnes of concrete steel, which will make it the largest unit of this kind in Romania. It will also be one of the top investments in Romania these years.

According to local mayor Mr Costinel Milescu, the steel mill will hire 450 people, mostly locals, and will create 600 more jobs in the horizontal industry.

Mr Milescu said that "The Indians made their first inquiries in our county as early as 2003. First, they tried to build in Calarasi, instead of former steel mill Siderca, but they could not, because of problems with papers, but also with the power supply. Later, they came to Oltenita and bought part of the former smelter TUROL and 4 to 5 hectares of land from the old co generation plant, where they decided to build the steel mill."

The products of the future steel mill of Oltenita will be equally sold on the local market and abroad. Currently, much of the concrete-steel used in Romania is imported from Bulgaria, Ukraine or Turkey.

(Sourced from www.nineoclock.ro)