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CHISINAU (Moldova), November 28 (SeeNews) - Moldovan agro-industrial group Trans-Oil said it has started works on a sunflower oil plant with a processing capacity of 700 tonnes per day at the country’s sole international port Giurgiulesti.
The new plant will operate fully within the existing port infrastructure of the group, Trans Oil said in a press release on Tuesday. The value of the investment was not disclosed.
"The production capacity of the new plant will be 700 tonnes per day, and its construction will probably be completed by the beginning of 2021," Trans Oil president Vazha Jashi said.
This will be Trans-Oil's third sunflower oil plant in Moldova.
In April, the International Investment Bank (IIB) said it has granted a loan to Trans-Oil to finance the acquisition of Romanian vegetable oil producer Ultex. The loan, whose value was not disclosed, was to be used for the development and technical upgrade of Ultex's vegetable oil plant.
Trans Oil is the largest buyer and exporter of cereals and oilseeds in Moldova. The group operates 16 storage facilities across the country capable of storing more than 750,000 tonnes simultaneously, two vegetable oil-extraction factories - in Balti and Ceadir-Lunga - with daily production capacity of 1,200 tonnes and 400 tonnes, respectively.
It also owns two grain terminals and a terminal for sunflower oil in the International Free Port of Giurgiulesti, as well as a number of agricultural, transport and infrastructure enterprises.