BCR grants EUR 31 mln loan for Portuguese Prio's oil plant in Romania

Romanian lender Banca Comerciala Romana (BCR) has granted a loan of EUR 31 million to Prio Extractie oil extraction plant in Lehliu-Gara, Calarasi county. The loan will provide partial financing to the company's working capital, according to the bank. It was granted for a period of 12 months. The Portuguese company Prio Foods, part of Martifer Group, inaugurated in May a vegetable oil extraction unit near the town of Lehliu-Gara in Calarasi county, with an investment of EUR 93 million. The unit has a production capacity of 316,000 tonnes of crude oil per year and a processing capacity of 750,000 tonnes of seeds per year. 90 percent of the factory’s production is exported in the region.Prio Foods also owns a biodiesel factory that began producing in June 2007. The investment at that time amounted to EUR 30 million. The company produces and distributes agricultural products and is active in industry and services, with production facilities on three continents. Its main shareholder, Martifer Group, holds 49 percent of the shares and is present in Romania with 500 employees. Irina Popescu, irina.popescu@romania-insider.com (photo source: Photoxpress.com)