Spanish investor Agrovin has put EUR 10 million into a new distillery in the Odobesti area in Vrancea county. The factory, called Bioaldevin, currently employs 60. The company plan to invest an extra EUR 10 million by 2017. Out of the previous investment, some EUR 4 million are funds from Cofides, a Spanish private – public partnership which supports Spanish investments abroad.

In this distillery, the Spanish investors are using secondary products resulted from wine making: mark and yeast. In a first phase, the factory will produce alcohol, tartaric acid, seeds and fertilizers. In later stages, the factory will make more sophisticated products, such as tannins, grape skin extract and even electricity, said  Agrovin president German Leon.

The Romanian state will be able to gain some EUR 50 million from excises on the products made at the newly opened factory, said the foreign investor.

editor@romania-insider.com