BUSINESS

Papastratos to invest another €125 mln in Aspropyrgos plant

papastratos-to-invest-another-e125-mln-in-aspropyrgos-plant

Tobacco giant Papastratos announced a major new investment of 125 million euros in its Aspropyrgos factory.

This comes on the heels of a €300 million investment in the same unit by the local subsidiary of US multinational Philip Morris International.

It will increase the plant’s capacity through the installation of two new production lines for heated tobacco sticks, known as Heets, and one for the production of filters.

It will also upgrade the existing six production lines for the production of the next generation of IQOS, just three years after their installation.

The new investment will lead to 115 hirings.