Romanian car manufacturer Automobile Dacia, a subsidiary of France's Groupe Renault, plans to invest 100 million euros ($113.8 million) to boost the production capacity in its plant in Mioveni, Argeș County, by 2021.

The company said that it intends to extend the plant’s production capacity by 15 percent over the next two years adding that all production lines will be extended.

Of the total $113.8 million commitment, $28.4 million will come from state aid. Automobile Dacia plans to hire 300 new employees in the next two years.

Automobile Dacia also noted that the commitment is in line with its strategy to keep the Mioveni plant as the gravity center of Dacia production.