Marcel Boloș, the Minister of Finance, said that the Romanian Government supports the construction of a cup factory in the city, by the IPEC company.

It would be the largest cup factory in Europe, a project in partnership with IKEA.

Moreover, Minister Boloș stated that he came to Alba Iulia specifically to visit the company.

In short, Boloș wanted to see the company to which the Romanian Government could give state aid for the construction of the future factory.

The statement was made by Boloș, right in front of the factory, after visiting the production unit on Monday, October 23, 2023.

It is about a project that is in advanced discussions at the level of the IPEC management and which Boloș classifies as a strategic investment. The factory would be a joint project with IKEA.

“We are now in discussions for the largest project and the largest European factory, together with IKEA, which is also a strategic investment to support the investments made by the companies and since it is about such a project of such scope and such a partnership it is our duty to know on the spot the problems faced by investors and, moreover, to have the courage to make these state aid schemes, even customized ones, a normal approach for us to really support the economic development of Romania”, said Minister of Finance Marcel Boloș in front of the IPEC factory.

“The minister visited the IPEC factory where it was specifically discussed about the possibility of granting state aid in the largest cup factory in Europe, which involves an association between IKEA and IPEC, which together with the other factory makes 3% of the world production of plates “, said the PNL deputy from Alba, Florin Roman.

Recently, the management of the factory told alba24.ro that if the project becomes a reality, the cup factory would be the most modern in the world. It would be an investment of over 10 million euros.

Cristian Covaciu, the co-founder of IPEC, stated for alba24.ro, that at the management level the project is in advanced discussions, but it depends a lot on what the Romanian Government will do in the next period.

The factory would be the most modern in the world, due to the fact that it will be fully automated, with technologies that will be used for the first time in the world, Cristian Covaciu also specified.

It would provide around 1% of the world’s production of cups. In terms of employees, it could be 100 people to oversee the technology and production system.

The salaries would be commensurate, explained the co-founder of the factory.

What is state aid?

State aid is a form of financial support or benefits provided by national governments or local government entities to businesses or other economic entities with the aim of promoting certain economic, social or political objectives.

This aid can take many forms, including subsidies, tax breaks, loan guarantees, preferential loans, direct government investment in businesses, and more.

The purposes for which state aid is granted can range from stimulating economic development and job creation to supporting economic sectors considered strategic or fostering innovation.

Source: Alba24