Profiland Galati plans to open steel mill

The Profiland group, based in the southeastern city of Galati, plans to start construction of a steel mill with an annual production capacity of 1 million tons, according to the company's General Manager, Andrei Lisinschi, for NewIn newswire. The construction is to start in 2008 in a location yet to be decided. Locations in four counties are being considered for the new plant.

“The steel plant will be operational in two years,” Lisinschi said, and will produce an annual 500,000 tons of iron concrete reinforcing bars and 500,000 tons of steel flat products. As such, the plant will become a competitor of the Galati-based subsidiary of steel giant ArcelorMittal, specialized in flat products.

The investment is estimated to be worth some €200-300 million and the plant will employ 2,000 to 3,000 people, Lisinschi added. (NewsIn)