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Industry 4.0: EIB supports construction of new Arctic factory in Romania

The European Investment Bank (EIB) is lending 68 million Euro to white goods producer Arctic to finance the construction of a large-scale washing machine production plant featuring advanced manufacturing technologies and automation efficiency.

2018-07-13 14:39:56

This transaction is guaranteed by the European Fund for Strategic Investments (EFSI), which is the central pillar of the Investment Plan for Europe. The EFSI support will stimulate greenfield foreign direct investment to attract new investments and transform Romania into a white goods production hub for Europe.

After completion in 2019, the new factory will produce some 2.2 million washing machines a year. This will allow Arctic - currently the market leader in the Romanian white goods market with more than 40 per cent market share - to meet increasing demand in the European market. Arctic is part of the Arcelik Group - the third largest producer of white goods in Europe and the seventh largest in the world.

EIB Vice President Andrew McDowell commented: "This highly innovative project, supported by the Investment Plan for Europe, will create 480 direct jobs and 900 additional working opportunities at a supplier level. The facility will be located in the South-Muntenia region, which is facing structural economic challenges following steel industry closures and is characterized by high unemployment and a low degree of technology manufacturing. For this reason, the investment has a great value for the region."



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