Gebauer & Griller opened a $25 million cable manufacturing plant on Friday in Bălți, Moldova's second largest city.
The Austrian investor received a $7 million loan from the European Bank for Reconstruction and Development for its greenfield project.
The EBRD is helping Gebauer & Griller gain a foothold in Moldova to attract more foreign investment to the country. The loan also supports the automotive sector supply chain throughout the countries in which the bank invests.
"The opening of Gebauer & Griller’s new plant in Bălți symbolizes Moldova’s progress towards more complex economic activities," Valeriu Lazăr, the Moldovan deputy prime minister and economy minister, said.
The new plant will be located in close proximity to major customers, allowing Gebauer & Griller to benefit from lower transportation and production costs.
"For its size and experience in foreign investments, Gebauer & Griller acted as a pioneer by building this cable factory in Moldova," Gerhard Griller, the chairman of Gebauer & Griller's supervisory board, said.
Gebauer & Griller Kabelwerke GmbH is an Austrian family-owned manufacturer of cables and wires.
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