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CHISINAU (Moldova), October 1 (SeeNews) - Moldovan agro-industrial group Trans-Oil has received a $150 million (138 million euro) financing package from nine lenders in order to finance its activities in 2019, the European Bank for Reconstruction and Development said on Tuesday.
The facility, arranged and managed by ING Bank, also involves the EBRD, UniCredit Bank Austria, the Black Sea Trade and Development Bank, the Dutch Development Bank FMO, Mobiasbanca – OTP Group, OTP Bank, FIMBank and Banque Cantonale Vaudoise, the EBRD said in a statement.
The EBRD is providing $30 million of the total package.
Trans-Oil is looking to expand to new markets and strengthen its current position in the European Union, the Middle East and northern Africa, according to the statement. This year, Trans-Oil is planning to increase its output of organic sunflower oil as well as high oleic sunflower oil.
The EBRD has previously provided loans to Trans-Oil to finance the purchase of agricultural commodities, the construction of a sunflower seed crushing plant in Ceadir Lunga, the expansion of a grain terminal in the Moldovan port of Giurgiulesti on the Danube and the acquisition and modernisation of a grain storage facility in the neighbouring port of Reni, in Ukraine.
Trans-Oil engages in activities across the full agricultural value chain - from farming, grain handling, storage and trading to wheat flour production, oilseed crushing and oil bottling.
The EBRD is the largest institutional investor in Moldova and has invested over 1.2 billion euro in the country to date.
($ = 0.9171 euro)