EBRD supports diversification of agribusiness in Romania

The EBRD is supporting the development of the Romanian rapeseed industry along its value chain, including oilseed crushing, refining and production of edible oil and biodiesel, with a €80 million syndicated financing package to Expur S.A., a local oilseed processing company.
Expur currently crushes rapeseed and sunflower seed, producing crude rapeseed oil, refined edible sunflower oil, as well as rapeseed and sunflower meal and biodiesel, for both domestic and export markets.

The EBRD financing will support Expur’s strategy to contribute to the development of the rape meal and biodiesel markets in Romania.  The increased demand for rapeseed as a raw material for these products would encourage local farmers to cultivate more of the crop for domestic use.
In addition, the increased availability of rape meal, as a more cost-effective alternative to imported expensive soy meal, would also support Romanian livestock producers in their efforts to reduce the cost of animal feed, thereby reducing the cost of meat for the Romanian consumer.
The €80 million EBRD package comprises a €20 million long-term loan to finance the upgrade of Expur’s crushing facility, and a €60 million working capital facility.  Half of each of the two loans will be for the Bank’s account, with the remaining amount syndicated to BRD (Société Générale Group) and Rabobank.

Expur was recently acquired by Saipol S.A.S., the French leader in oilseed crushing and vegetable oil refining. Saipol, which is part of Sofiprotéol’s Oilseed Division, processes rapeseed and sunflower into vegetable oil intended for human consumption, oil meal for animal feed, and by-products for sustainable energy and chemistry. Expur’s operating facilities and capacities strongly complement those of Saipol.

News source: EBRD link: article