Italian rebar and special steel manufacturer AFV Beltrame Group said recently that it plans to invest 200 million euros to upgrade the recently acquired Targoviste special steel plant in Romania, COS Targoviste, and build a photovoltaic park with an installed capacity of 100-120 MW.
Beltrame Group has started production of rebar at COS Targoviste, becoming the only full-cycle rebar producer in Romania, supplying about half of the domestic demand in the construction industry, the Beltrame Group said in a press release.
The company said that over the next five years, about 100 million euros will be invested in machinery modernization, and 80 percent of the budget will be used to purchase technology to reduce carbon emissions, increase energy efficiency, and reduce waste by reusing resources and minimizing waste, Towards a circular economy. By the fifth year of the investment, about 1,000 jobs will be created.
Beltrame Group also said it plans to invest 100 million euros in the construction of a photovoltaic park with an installed capacity of 100-120 megawatts and an energy storage system to power the production units.
In addition to the commissioning of the former steel mill, Beltrame is in the final stages of approving a green rebar and wire plant, which will also be built on the Targoviste site. With the completion of the green plant expected in 2024, Donaram Tagovest's total production capacity will reach approximately 700,000-800,000 tons of rebar and wire rod per year. In the construction industry, the total domestic consumption of steel bars and wires is about 1.5 million tons per year. The company first announced the new green factory project in July 2021, with an investment of 300 million euros.
Beltram Group estimates Romania's turnover in 2022 to be around 140 million euros, similar to the level in 2021. Beltrame Group completed the acquisition of COS Targoviste in March. The group operates in Romania through Donalam, which was established in 2007 following the acquisition of the Siderca hot rolling mill in Calarasi.
Founded in 1896, Beltrame manufactures steel products for construction, shipbuilding and excavation, with business operations in more than 40 countries. The company has six factories in Italy, France, Switzerland and Romania, with a total of 2,000 employees, producing 2 million tons of steel annually.
