Japanese manufacturer Sumitomo Riko is aiming to invest €27m in its project to build a new cable production facility in the Balti free economic zone in Moldova. Under the plan, the company will create about 3,200 new jobs at the designed factory, reports local news site SEENews.com.

Sumitomo Riso is planning to spend around €17m on construction works, and allocate €10m to fitting the plant with production lines and related equipment.

The latest project was unveiled by Marin Ciobanu, the zone¡¯s administrator. The planned time schedule of the investment was not disclosed.

The production facility in Moldova¡¯s northern part will be fitted with a total floorspace of 25,000 square metres. Sumitomo Riko also operates facilities in neighbouring Romania.

This follows an investment unveiled by Sumitomo Riko in late February. The Japanese group announced it will set up a new factory in Sosnowiec, in Poland's south-western part, where it is to produce PA car parts and take on about 200 workers.

Balti was established in May 2010 as Moldova¡¯s seventh free economic zone.

Set up in 1929, Sumitomo Riko is operated by a global workforce of close to 23,600, according to data released by the firm. Sumitomo Riko supplies its output to a number of major car makers, including Toyota, PSA Peugeot Citroën, Renault-Nissan, Mazda, Honda and GM.