The European Investment Bank (EIB) recently approved a loan for a new port facility, located in the Black Sea nation of Bulgaria.
The Agria Group Holding benefited from a 14 million EUR investment, courtesy of EIB, in order to finance its port facility build, destined for storage, handling and export of agricultural products. The new construction site will be placed near the town of Beloslav, west of the port city of Varna.
It is estimated the facility will have a total annual throughput of 1 million tons of grain, along with 110,000 tons of sunflower meal and 160,000 tons of liquid cargo. A project summary presented by EIB highlights the fact that the storage area will also offer storage and export services for other companies.
The EIB investment only covers part of the total cost of the project, estimated at 29 million EUR.
Furthermore, Agria also announced it will invest 3.5 million EUR in the construction of new silos, located in the town of Popovo, in North-East Bulgaria.