Release date: 10 May 2016
Promoter – Financial IntermediaryCRETA FARM INDUSTRIAL AND COMMERCIAL CO
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.
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.
Proposed EIB finance (Approximate amount)
EUR 15 million
Total cost (Approximate amount)
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.
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.
Signed - 6/05/2016
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).