Portuguese Prio Foods opens EUR 93 mln vegetable oil factory in Romania

The Portuguese company Prio Foods, part of Martifer Group has recently inaugurated a vegetable oil extraction unit, near Lehliu-Gara in Calarasi county, through an investment of EUR 93 million. The investment was supported by a EUR 40 million loan from the European Investment Bank and additional funds from its shareholders, according to the main production director of Prio Food, Nuno Alegria. The Prio Foods representative added that the company will continue to expand in Romania, with plans to invest EUR 8 million in a line of edible oil refinery, that is expected to be operational within a year. Prio Foods also owns a biodiesel factory that began producing in June 2007. The investment at that time amounted to EUR 30 million. The group's representatives estimate a turnover of EUR 500 million for Prio Foods in Romania for 2012. The company produces and distributes agricultural products, and is active in industry and services, holding 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