Renault to invest up to €1.8 bln in Romania by 2011

“Renault plans to invest some €600 million in Romania in the coming three years. The construction of Renault Mecanique Roumanie is a new stage in the development of Renault’s investments,” said Prime Minister Calin Popescu Tariceanu, who attended the factory’s inauguration on Tuesday.

Henri Paul, French Ambassador to Romania, who also attended the inauguration, said that France is the third-largest investor in Romania, while Renault makes up for 25 percent of French investments.

Renault was granted €42 mln in state aid for the transmission systems factory, €18 mln at the factory’s opening, and the remaining €24 million to be allocated in time. Tariceanu indicated that the aid was granted in accordance with legislation relating to major investments. The factory required a total €224 million investment.

The transmission systems produced in Romania will be used for Renault and Nissan brand cars.