African multinational takes over to cultivate 13,700 ha in southern Romania

African Industries Group (AIG), a multinational holding originating in Nigeria and owned by Raj Gupta and Alok Gupta, will take over three Romanian companies in the southern part of the country (Calarasi County) that own ​​13,700 hectares and a storage capacity of almost 40,000 tonnes.

The African investor pledges to bring modern technology that it already uses in its farms. The investor will use Romanian land and Romanian financing but African know-how.

“Our goal is to invest in farm automation and technology, including through the implementation of specialized know-how. We already have modern weather stations, satellite imagery and various methods for accurately monitoring processes on our farms. Through our company Agroconcept, we bring the most advanced agricultural equipment of various top global brands, which gives us a unique position in Romania," Raj Gupta said, Ziarul Financiar reported.

The three farms are currently owned by Dutch-registered Thames Farming Enterprises. The African group contracted EUR 49.4 mln syndicated loan from Banca Transilvania (lead arranger) and OTP bank Romania to finance the deal.

AIG holding has been present in Romania since 2015 and owns 2,300 hectares in Teleorman County.

(Photo source: Andrey Ivanov/Dreamstime.com)