The Romanian Embassy informs that on July 23, the official inauguration of the new production plant of TeraPlast took place in the town of Okondo, in the Basque Country, in the presence of Her Majesty Margareta and Prince Radu.
The opening of this new production unit reflects the evolution of Romania, which has transitioned from being a recipient of investments to also becoming an investing country, thanks to Romanian companies that are successfully expanding and investing in European markets.
The inauguration has a special significance in the year when Romania and Spain commemorate the 145th anniversary of the establishment of diplomatic relations, a relationship “based on dialogue, trust, and mutual respect, strengthened day by day by the economic and human ties between both countries,” the Embassy states.
The chargé d’affaires a.i., Raluca Mihăilă, conveyed a message on behalf of the Romanian Embassy, highlighting that “economic diplomacy constitutes a strategic priority of foreign policy and a concrete responsibility: to create bridges between companies, institutions, and investors, as well as to support the internationalization of Romanian companies, thereby contributing to strengthening Romania’s economic presence in international markets.”
Referring to the three pillars that have marked the trajectory of the TeraPlast Group – tradition, adaptability, and innovation-, Raluca Mihăilă emphasized the importance of this investment for relations between Romania and Spain and conveyed to the company representatives – to the president of the Group, Dorel Goia; to the general director Alexandru Stânean, and to the director of the subsidiary in Spain Raluca Schteiff- the full support of the Embassy and the General Consulate of Romania in Bilbao to consolidate their presence in the Spanish market.
With this investment, TeraPlast enters the Spanish market for plastic pipes, the seventh largest in Europe, a market with significant growth potential driven by the development of water and gas infrastructures across Europe.
At the same time, the company strengthens its presence in Western Europe and expands its activity towards North Africa, leveraging the experience and synergies developed within the group following investments made in Hungary, Austria, Croatia, and the Republic of Moldova.
“TeraPlast’s investment,” the Romanian Embassy concludes, “highlights the maturity of the Romanian business sector and the ability of companies in the country to compete, innovate, and generate value beyond their borders. It also reflects the dynamism of economic relations between Romania and Spain, supported today not only by trade exchanges but also by investments in both directions, solid business alliances, and mutual trust.”
