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January 19, 2022

PM Dancila meets representatives of Liberty House Group, voices Gov’t’s openness for Group to expand investments in Romania

Prime Minister hailed on Friday the takeover by the Liberty House Group of the Steel Mill of Galati and voiced the Government’s openness and support for expanding its investments in Romania.

According to a release of the Executive, the Prime Minister and Deputy Prime Minister Viorel Stefan met on Friday, at the Government headquarters, with a delegation of the Liberty House Group, headed by Executive Chairman Sanjeev Gupta, as well as representatives of the ArcelorMittal Galati.

The PM pointed out the investment opportunities, especially in respect to the public-private partnership, as well as the measures that the Government took in view of ensuring a favorable climate to the business milieu, the quoted source mentions.

“Your investment is very important for us because its success also represents a success for our country. I hope that, in the next period, you strengthen you investment in our country and focus on research and innovation. Romania is a country with economic growth of 7 percent and this year we adopted several business-friendly normative acts,” Viorica Dancila stated.

In his turn, Sanjeev Gupta laid out the investment projects of the Liberty House Group at the Steel Mill of Galati, both in view of increasing steel production and in view of the human resources, taking into account the specificity of the city.

The Executive Chairman of the Liberty House Group stated that the steel mill has a large infrastructure and with a good investment strategy, it can become a successful business in the region. He expressed the company’s wish to increase the steel production to two million tones per year and the intention to invest 300 million euro in view of restarting another furnace. He also mentioned the desire to invest in education, sports and arts.

He highlighted the necessity to improve transport infrastructure, especially in the Danube ports area, as well as the railway system.

The two parties agreed to collaborate in view of attracting European funds, especially on innovative segments or in reducing greenhouse gas emissions, the press release said.

The Liberty House Group is a metallurgical company founded in the UK in 1992, having its headquarters in London, with subsidiaries in Dubai, Singapore and Hong Kong. The group has approximately 19,000 employees worldwide and trade relations with 35 countries.

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