The company’s major projects target, among others, the acquisition of state-of-the-art agricultural machinery and the expansion of the irrigation structure in the southern part of Insula Mare a Brailei, EximBank said in a statement.
”We are convinced this partnership will significantly contribute to consolidating the Romanian agribusiness”, said Traian Halalai, Executive President of EximBank.
Agricost operates some 57,000 hectares of land in Insula Mare a Brailei and accounts for nearly 5% of Romania’s total cereal production.
Agricost was acquired by Al Dahra Agriculture LLC of the United Arab Emirates in 2018, which undertook to carry out an ample investment program over the next four years.
Agricost holds and manages the largest farm in Europe, which produces annually over 500,000 tons of grain.
Al Dahra is a transnational corporation, operating in over 20 countries and serving over 40 markets. It holds and operates a cereal terminal strategically located in the Port of Fujairah in the United Arab Emirates, with 20 silos and a storage capacity of over 300,000 tons.