BVB-listed fertilizers producer Norofert to invest EUR 2 mln this year
BVB-listed Norofert, a producer of organic fertilizers and organic pesticides, estimates investments of about EUR 2 mln for 2022, Vlad Popescu, the CEO of Norofert, told Ziarul Financiar daily.
One of the company's ambitions is to produce the microorganisms it uses as raw material, he added.
The company has a market capitalization of RON 142 mln (EUR 28 mln).
The producer plans to invest in the farm in Zimnicea, which it took over last year, as it needs larger and more modern storage spaces in order to be able to earn better from the trading segment. The company currently operates storage capacities of 5,000 tons.
Some EUR 1.5 mln will be used for adding 8,000 tons of vertical storage capacities in metal silos and around 2,000 tons in warehouses with all the related systems needed to keep the crops for a longer period of time and thus trade them at a much better price. The rest of the money, up to EUR 2 mln, will be invested in irrigation systems.
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