Voestalpine seeking 1,000 hectares in Constanta for largest Romanian investment ever

Sources on the steel market told Business Standard that Voestalpine is looking for a piece of land close to the southeastern town of Agigea in Constanta County to build a 5 million ton steel production unit.

“It is obvious that the Austrian company’s investment, estimated at €6-7 billion, depends to a great extent on its finding that land, which needs to be located near the Black Sea area. After considering the Giurgiu area, the Austrians decided on Constanta,” sources said.

Such an investment would lead to the creation of some 10,000 new jobs and the largest steel plant locally. ArcelorMittal Galati, the country’s current main steel producer, has a annual 4.7 ton capacity.

Voestalpine is Austria’s largest steel producer and one of the major companies in that country. For its new plant, Romania, Bulgaria and Ukraine are possible locations, but sources say Romania has the best chance to be chosen as investment target.

One of the leading law firms in Romania, Tuca, Zbarcea&Asociatii, is Voestalpine’s consultant locally, sources added.