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    Reference: 20150735
    Release date: 10 May 2016

    Promoter – Financial Intermediary

    CRETA FARM INDUSTRIAL AND COMMERCIAL CO

    Location

    Description

    The project will finance Creta Farm's expansion plan through the development of new product lines in the premium branded meat snack and dairy segments based on the company's Oliving technology and with enhanced taste and health properties. The project costs incorporate the company's research, development and innovation (RDI) expenses and innovation-related capital expenditure (Capex) investments at its production facility in Crete over the period from 2016 to 2019.

    Objectives

    The project is expected to maintain and increase the promoter's know-how in the premium branded meat snack and dairy segments, and its international expansion through exporting and licensing. Furthermore, the transaction would bring financial support to a Greek company which has constantly been contributing to employment in Greece.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 15 million

    Total cost (Approximate amount)

    Not disclosed.

    Environmental aspects

    The promoter's production facilities are certified under the highest industry and quality standards. The project is deemed to meet EIB environmental and social standards and is therefore acceptable for the Bank's financing.

    Procurement

    The promoter is a private company not operating in the utilities sector and not having the status of a contracting authority. Thus it is not covered by EU directives on procurement.

    Status

    Signed - 6/05/2016

    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).

    Related tags

    Greece Industry