InterAgro hopes to reach EUR 1 billion turnover threshold this year, plans new factory

The InterAgro group of companies, owned by Romanian businessman Ioan Niculae (in picture), expects a EUR 1 billion turnover this year, up from EUR 720 million in 2009. The result will be however lower than the EUR 1.2 billion posted in 2008, according to Ioan Niculae. The group plans to invest EUR 75 million in 2011 in the energy segment and in a factory which will process the sun flower and the rape seeds, which will be located in Zimnicea. The investments in the energy sector will go to five co-generation power plants. The factory in Zimnicea, a EUR 23 million investment covered by EU funds should see the first equipments installed in April 2011. The factory will process 700 tonnes of sees and 500 tonnes of sun flower a day, with the raw materials coming from the group's firms. The group invested EUR 14 million in equipments and technologies last year. editor@romania-insider.com