23 Jan 2023
Project to build €650-million factory in northwestern town of Oradea, near Hungarian border
Bucharest – The Romanian government has agreed to provide €99.55 million in state aid to Nokian Tyres Plc for the construction of a greenfield tire plant in the country.
A government announcement, issued 18 Jan, indicated that the requested aid would be provided between 2023 and 2028, subject to authorisation by the European Commission.
Finnish tire maker Nokian disclosed plans to build the “world’s first zero-CO2 emissions” tire plant in Romania in November last year.
The €650-million project will be located in the northwestern town of Oradea, Bihor county, near the Hungarian border.
According to Nokian, construction is scheduled to begin in early 2023, with the first tires expected to be produced in the second half of 2024.
Part of Nokian’s new production strategy following its exit from Russia, the Romanian plant has a planned capacity of 6 million tires per year, with potential for future expansion.
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