Romania: Largest Farm Finalizes EUR65M Investment
Agricost, the largest grain and oilseeds farm in Romania by cultivated land, located in the Great Braila Island, has opened in 2021 the third alfalfa processing plant. The project of the construction from scratch of the three factories rose to EUR65 million.
Third alfalfa processing factory
“This year, we have finalized the third alfalfa processing factory after completing the first unit four years ago and the second unit in 2020. We have invested EUR65 million in the three factories in the Great Braila Island (…)”, Mihai Solomei, CEO of Agricost, told Ziarul Financiar.
In 2019, Agricost had a cultivated area of alfalfa covering 2,500 hectares and the objective was to grow this area fivefold over the next five years, until 2024. Massive investments were carried out in the context in which the company was acquired in 2018 by Al Dahra Agriculture LLC of the United Arab Emirates, in a deal valued at EUR200 million at that time.
Besides Romania, investments also targeted Serbia and Bulgaria where the company opened two alfalfa processing plants.
Source: www.ZFEnglish.com
