Chinese Group to Start EUR 180 mln Romania Investment

A Chinese company has signed a 49-year agreement to lease a 20 ha site in Romania, where it will establish the largest consumer electronics factory in Eastern Europe.

Panda Electronics will invest EUR 184 mln in building a production facility in Darmanesti, a commune in Dambovita County, designed to employ 2,200 people.

Construction of the plant is scheduled to begin in February next year and take 11 months to complete. The factory, which will assemble LCD TVs, laptops, computer monitors, touchscreen monitors, car navigation systems and digital photo frames, will have a capacity of seven million units a year.

Founded in 1936, Panda Electronics Group Company is a large state-owned comprehensive electronics enterprise listed on the Hong Kong and Shanghai stock exchanges, Incont.ro reports.