South Korea based chemical and trading company Hyosung is planning to build a $150m facility in Romania to produce auto airbags and tyre components.
The company said that the construction work on the new plant is expected to begin in the next period.
Discussions on the project have been completed by Romanian business environment minister Lucian Isar and Hyosung.
Many other tyre manufacturers including Pirelli, which makes car tyres and steel cords in Slatina and has its own plant for anti-particulate filters for diesel engines in Bumbesti Jiu.
Pirelli's investment in Romania is expected to reach EUR 450m by 2014.
Michelin also manufactures tyres in the Floresti and Zalau, where it also owns a steel cords factory.
German car-parts makers Continental and Draxlmaier are also planning to invest EUR169m in the country through to 2013, while Bosch will also construct a EUR77m automotive technology plant in Cluj-Napoca.
