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President Klaus Iohannis had a meeting with the management of the Liberty Galati steel plant on Tuesday, during which Sanjeev Gupta, executive chairman of the Gupta Family Group Alliance (GFG Alliance) and Liberty Steel Group, presented his investment plans for Romania.
Iohannis highlighted the "competitive edge" of the Romanian economy and reiterated the importance of significant, long-term investments "to economic recovery and the restoration of economic confidence," especially in the context generated by the COVID-19 pandemic.
"Sanjeev Gupta presented his long-term prospects for investment in Romania, as well as development intentions, in partnership with local players, of both current production facilities and new ones. Also, the executive president of GFG Alliance and Liberty Steel Group unveiled the group's intention to diversify its portfolio of assets in Romania. The President of Romania underscored that the group's investment in the Galati plant is an important opportunity for the Romanian steel industry to develop and reach a high level of innovation and encouraged the executives of GFG Alliance and Liberty Steel Group to conclude business partnerships that are beneficial to the Romanian economy."
