Italy’s La Triveneta Cavi is going to build a greenfield production facility in Moldova that will be the country’s first such plant for manufacturing low- and medium voltage electrical cables.
Per multiple media reports, the plant, to cost €17.2 million, will have annual capacity of 12,000 metric tons of cable for use in buildings, industrial processes, power distribution, telecom and data transmission. The plant will initially employ up to 100 people.
The European Bank for Reconstruction and Development (EBRD) reported that that it is lending €6.2 million to the Moldovan subsidiary of Triveneta Cavi for the construction of the production facility. The plant will be located in a new industrial park in Strășeni, some 20 kilometres from the Moldovan capital of Chisinau. It noted that the company chose the area for its first plant investment abroad, because of its geographical position, lower energy and labor costs.
“This investment represents significant help for our strategic decision to expand our operation and increase our production capacities beyond Italy, as to serve our increasing client base,” said Fabio Fracasso, general manager of La Triveneta Cavi Development Srl. “We appreciate the EBRD’s decision to partner with us in accomplishing this ambitious goal and in this geographic region, which we think has potential for economic growth. (We are) glad that the project will also help bring know-how and innovation into the Moldovan manufacturing industry.”
The EBRD notes that it is the largest institutional investor in Moldova. To date, it has invested almost €1 billion in more than 100 projects, which includes a greenfield plant of Gebauer & Griller, an Austrian auto cable manufacturer, in the Free Economic Zone of Bălți, Moldova’s second largest city.
