Draexlmaier Automotive to open fourth plant in Moldova

In 2018 German concern Draexlmaier Automotive will open its fourth production plant in Moldova. This plant, which will produce electric cables, is to be built in the Cahul subzone within the Balti free economic zone. The value of the investment is about €30m and completion is scheduled by the end of next June. According to the company's investment plan, the 20,000 sqm plant will begin production in July while ramping up employment until it's created around 1,500 jobs by the end of 2018. An additional 2,000 people are eventually expected for the Balti zone, which would bring the company's total employment figures to 6,500.