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    Signature(s)

    Amount
    € 37,200,000
    Countries
    Sector(s)
    Bulgaria : € 37,200,000
    Industry : € 32,773,200
    Signature date(s)
    29/07/2021 : € 737,800
    18/09/2017 : € 3,689,000
    29/07/2021 : € 5,462,200
    18/09/2017 : € 27,311,000

    Summary sheet

    Release date
    5 September 2017
    Status
    Reference
    Signed | 18/09/2017
    20160578
    Project name
    Promoter - financial intermediary
    FOOD INDUSTRY CAPACITY EXPANSION
    OLIVA AD
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 37 million
    EUR 74 million
    Location
    Sector(s)
    Description
    Objectives

    The project consists of the construction of a crushing and oil extraction facility of crude sunflower oil with a nameplate capacity of up to 1 500 tons per day (tpd) and associated storage and logistics facilities in the village of Beloslav (near Varna, Bulgaria). The promoter has already obtained the necessary building permits and has started first stages of construction along with negotiations with equipment suppliers.

    The proposed investment is to support the expansion of a successful mid-cap local operator in the sunflower market which has been continuously modernising its assets and improving competitiveness. Furthermore, the proximity of the new plant to the Varna port is expected to facilitate transport (notably due to the presence of an important logistic hub - sea, railways and roads). Through the construction of a new greenfield sunflower oilseed production plant, which is expected to incorporate best available technology, the company should be able to consolidate its competitive position and, therefore, increase its market share both in Bulgaria and in the EU. The project will also create new employment and help secure existing employment in rural areas and, therefore, contribute to agriculture/bioeconomy in a less developed European region.

    Environmental aspects
    Procurement

    The project is expected to be operated and implemented in conformity with applicable national and EU environmental legislations.

    The Bank will require the promoter to ensure that any procurement procedures are done in accordance with the Bank's Guide to Procurement and the relevant applicable EU public procurement rules.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - FOOD INDUSTRY CAPACITY EXPANSION
    Publication Date
    15 Nov 2017
    Document language
    Main Topic
    Lending
    Document Number
    70266168
    Document Focus
    Environmental Information
    Project Number
    20160578
    Regions
    Countries
    Publicly available
    Download now

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