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PM Orban: Romania, to invest over 40 bln euros in transport infrastructure, 25 bln euros in energy, in next 10 years

Prime Minister Ludovic Orban said on Wednesday in eastern Galati that over the next 10 years Romania will invest more than 40 billion euros in transport infrastructure and 25 billion euros in energy.

The head of the Executive visited the Liberty Galati Steel Plant, where he participated in the signing ceremony of five important memoranda for the development of the plant and the Romanian economy, on which occasion he specified that the Government's objective is to reindustrialize Romania, but also to develop the transport and energy infrastructure. .

"As regards the major infrastructure projects, in the next 10 years Romania will invest over 40 billion euros in the development of the transport infrastructure. There will also be a commitment for the development of the energy infrastructure, of at least 25 billion euros over the next 10 years, our goal is to reindustrialize Romania, to use all the levers we have at our disposal to attract new investments to develop industrial capacities, to really succeed in producing as many things competitively in Romania as possible, by capitalizing on all the opportunities that are provided to us by developments on the European, international markets. his is why I would like to assure investors in the Liberty [Steel Plant] that they are making an investment that will pay off in the short, medium and long term," said Orban.

The prime minister stressed that the five memoranda represent an "extremely bold and important" step for the future of the Galati plant, but also for the future of the Romanian economy, at a time when the epidemic crisis has caused an economic crisis.

On Wednesday, a memorandum was signed at the Galati plant between Liberty Galati and the Ministry of Economy, Energy and Business Environment, by which the steel unit assumes to become, in the next 10 years, the first steel plant in Europe with the smallest carbon footprint, goal what will be possible through investments worth about 1.2 billion euros in modern steel production systems, through electric arc furnaces, investments that will ensure an increase in production from 2 to 4 million tons of steel per year.

The plant also entered into another partnership with EximBank for contracting bank loans with government guarantees.

At the same time, the plant signed a memorandum with the University of the Lower Danube in Galati, for the establishment of the Liberty Academy (research and training center for future steel engineers), as well as a memorandum with the Romanian Institute for Research and Development for Cryogenic Technologies and Isotope Research, a partnership that will begin research on the use of hydrogen in the manufacture of cast iron - a technology that will make a substantial contribution to achieving the goal of zero carbon footprint.

Another memorandum was signed with Romgaz for a potential partnership in association between the parties to build a new natural gas thermal power plant on the premises of Liberty Galati.