May 19 (SeeNews) - Romanian dairy producer Artesana is investing 5 million euro ($6.1 million) in a new factory, Romanian state-owned lender CEC Bank, which is providing financing for the project, said on Wednesday.
With the new factory Artesana will triple its production capacity and the number of its employees will reach 100, CEC Bank said in a press release.
CEC Bank will provide a 13.5 million lei ($3.3 million/2.7 million euro) loan for the investment and will pre-finance an approved state aid of some 2.3 million euro through a bridge loan.
Works at the new Artesana factory in Tecuci started in April. The unit will be built next to the existing factory and will have a total area of 3,100 sq m, of which the production area will occupy about 2,350 sq m. Following the investment, Artesana's production capacity will increase by about 40 tonnes of milk per day.
Started as a small family business in 2007, Artesana sells premium natural artisanal dairy products. As a result of the increase in demand for 100% natural products, Artesana's plant in Tecuci, in Galati county, has reached its maximum production capacity.
(1 euro=4.8677 lei)
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