Canada's Rock Tech Lithium could build 400 mln euro plant in Romania

Rock Tech Lithium

07/03/2022 14:19

BUCHAREST, March 7 (Reuters) - Canada's Rock Tech Lithium
 RCK.V  could invest 400 million euros ($436.16 million) to
build its second European lithium converter and refinery in
Romania, the state's energy ministry and the company said on
Monday.
    The company, which aims to start construction of its first
European facility in Germany in April, plans a second site in
Romania.  urn:newsml:reuters.com:*:nL8N2T73DD  
    On Monday, it signed a memorandum of understanding with
Romania’s energy ministry. 
    "We're very happy the government is granting us support for
our project here," chairman Dirk Harbecke told reporters in
capital Bucharest.
    Harbecke said the plant would generate some 700 direct and
indirect jobs and produce enough to supply 500,000 cars with
lithium-ion batteries per year. He did not say when a decision
would be taken to go ahead with the Romanian plant.
    Carmakers and battery cell players, including Volkswagen
 VOWG_p.DE  and China's CATL  300750.SZ , as well as Tesla, are
expanding production capacity in Germany, Europe's top economy,
as they bank on an expected mass roll-out of electric vehicles.
    "With this plant, Romania could be put on the map of battery
producers, and lay ... the groundwork for building up this
industry here," Romanian Energy Minister Virgil Popescu said,
adding Romania can grant state aid to battery investors under
its EU-funded recovery and resilience package. 
($1 = 0.9171 euros)

 (Reporting by Luiza Ilie; Editing by Barbara Lewis)
 ((luiza.ilie@thomsonreuters.com; +4021 527 0312; https://www.reuters.com/journalists/luiza-ilie))