Arctic Gaesti to benefit from state aid worth EUR 10 M

The biggest producer of electric household appliances in Romania, Arctic Gaesti will receive state aid worth EUR 10 M in view of developing the production capacity, in a project that will create approximately 1,000 new jobs. “For me, it is a great joy to visit a successful project. It is a project that started in 2002, when the Arcelik company took over the Gaesti-based factory. It is a project which today provides salaries and safety to almost 4,000 families, a project that secures an increase of exports,” PM Victor Ponta said during a visit to the Gaesti plant, quoted by and Agerpres. The prime minister added that the investments to be made in the near future at the Gaesti factory will allow a significant increase of the production capacity, higher incomes to the state budget and the creation of about 1,000 jobs.In their turn, Arctic officials thanked Romanian authorities for the support and mentioned that the EUR 10 M provided by the government will contribute to developing the production facilities in Romania.“We will increase by 50 pc the production capacity for refrigerating devices. Once the investment completed, the Gaesti factory will be the biggest fridge manufacturer unit in the European Union, and the bulk of its output will be exported,” said Levent Cakiroglu, the president of the Arcelik group.The total value of investments to be made in Gaesti amounts to EUR 23 M, of which EUR 10.2 M will be state aid. In the next five years, 572 jobs will be created directly, plus 259 at providers and subcontractors.The contribution of Arctic company to the state budget during 2014 – 2018 is estimated to exceed EUR 11 M.

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