International Financial Corporation lends 70 million dollars Moldovan agro-industrial company
The International Financial Corporation (IFC) had completed the loan application procedures and lent the Moldovan company “Trans-Oil Group” 70 million dollars. The funds are offered by the IFC in partnership with the Netherlands Development Finance Company (FMO) and the German Investment Corporation (DEG). The Moldovan company and its foreign sponsors started the negotiations in August 2012.
“It is a rather important step for Trans-Oil Group. Our partners' support makes us ready to take all the necessary efforts in order to increase the processing volume of oil seeds, extend the activity of our agricultural producers and consolidate our position on the international grain market,” the general manager of the Trans-Oil Group, Vincenzo Turrisi said.
The company had already initiated an important investment in the “Floarea Soarelui” oilseed processing plant from Balti municipality. The investment is meant to increase the factory’s efficiency and ecology level as well as help it meet the highest international standards.
“Agricultural production would become a more important part of our business, as Moldova has a high development and consolidation potential,” Turrisi said. He added that the IFC’s support, in partnership with the FMO and the DEG, was significant and would help the group “meet its strategic goals and become an important regional actor”.
The Trans-Oil Group was founded in 1997. The holding is operating in a wide range of agro-industrial sectors, including farmland processing, wheat processing and storage, flour and sunflower oil production. The company also specialises in international trade with countries like the USA, Russia and all the Mediterranean states.
“The International Financial Corporation is important for Moldova from two points of view. Our current investment portfolio in Moldova amounts to 100 million dollars and we also offer consultancy services,” the IFC director, Tomasz Telma said during the latest investment forum in Chisinau.
Adapted from: MOLDPRES