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PM Orban: Govt. to use every endowment contract as investment opportunity

Prime Minister Ludovic Orban stated, on Friday, during the visit to the construction site associated to the IVECO investment in Petresti, Dambovita County, that he has as an objective to use every endowment contract as an opportunity for investment, in increasing production capacities, as an opportunity for technological transfer.

Petresti is the site chosen for the building of an assembly plant for trucks for the Romanian Army.

"The investment is progressing spectacularly, it's a 50 million euro investment, which is carried out by IVECO to honor the Army endowment contract with IVECO trucks. This is, practically, a 50 million dollar investment, which is creating 200 jobs, which integrates part of the operations for the truck's production, it's about cabin operations, mainly, to build the cabin, it's part of, let's say, the offset for this contract, where the Ministry of Defence is beneficiary and which is signed with IVECO. Our objective (...) is to try and use each endowment contract as an opportunity for investment, in increasing production capacities, as an opportunity for technological transfer. Furthermore, an opportunity also for building research structures or other types of economic activities," said Orban.

Present in Petresti was also Minister of the Economy, Virgil Popescu, who mentioned that some components are to be produced in Medias.

"I discussed with Automecanica Medias and the cisterns will be built in Medias in their entirety. So there's been a change in the project for this and they can produce it from scratch in Medias," Minister Virgil Popescu said.

Prime Minister Ludovic Orban participated in August in the inauguration of the investment in Petresti, Dambovita County.

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