Moldova to be first foreign home for Italian cable production plant
An Italian cable and wires manufacturer recently inaugurated a new factory, located in Eastern Europe’s Republic of Moldova.
Specifically, La Triveneta Cavi has been working to inaugurate a factory for the manufacturing of cables and wires, in the Republic of Moldova. Located in the Strășeni Industrial Park (North of the country’s capital city of Chișinău), the factory is the result of a 24 million Euro (533 million MDL) investment supported by the European Bank for Reconstruction and Development (EBRD). It is also the first factory to be built outside of Italy.
The factory is set to produce low- and middle-voltage electrical cables, at an estimated output capacity of 12.000 tons per year. The cables will most likely be used for buildings, industrial processes, telecommunications, data transmissions and power distribution. The factory is set to employ as much as 200 people, despite only 49 will be working initially.
To comment on the importance of this investment is the Head of the EBRD Office in Chișinău, Dimitri Gvindadze: ‘The Bank remains committed to supporting foreign investors creating local jobs and bringing new skills, technologies and innovation to the country. Such investments enhance employment opportunities, strengthen economic resilience and anchor Moldova in regional logistical and supply chains.’
La Triveneta Cavi has chosen Moldova as the first foreign market for investments in a new factory. Until the recent unveiling, the company has only had factories in Italy. To achieve this expansion plan, the Bank had previously extended a 6,2 million Euro (137,7 million MDL) loan to a subsidiary of La Triveneta Cavi, in Moldova, in June 2015. This recent loan is the third that EBRD has made in Moldova’s cable industry. It’s also part of a total of 1,1 billion Euros (24,4 billion MDL) that EBRD has invested in Moldova, in more than 110 projects.
Dating back as much as 1965, La Triveneta Cavi is currently one of the most important representatives of its industry, in Europe. It’s known to produce low- and medium-voltage cables, used for industrial and home applications, along with power distribution and renewable technologies.