The European Bank for Reconstruction and Development (EBRD) has approved a EUR 80 million syndicated financing package to Expur, a Romanian oilseed processing company. The EBRD financing will support Expur’s strategy to contribute to the development of the rape meal and biodiesel markets in Romania. The increased demand for rapeseed as a raw material for these products would encourage local farmers to cultivate more of the crop for domestic use, according to the EBRD.

The EUR 80 million EBRD package comprises a EUR 20 million long-term loan to finance the upgrade of Expur’s crushing facility, and a EUR 60 million working capital facility. Half of each of the two loans will be for the Bank’s account, with the remaining amount syndicated to BRD and Rabobank.

Expur currently crushes rapeseed and sunflower seed, producing crude rapeseed oil, refined edible sunflower oil, as well as rapeseed and sunflower meal and biodiesel, for both domestic and export markets.

Expur was recently acquired by French company Saipol S.A.S., which is part of Sofiprotéol’s Oilseed Division. The company was privatized in 1995 when it was bought by Alimenta Group. Today, Expur owns two crushing plant in Slobozia and Urziceni and a network of six silos located in the fertile area of the Danube River. The company is currently managed by Richard Randag, who is the president.

Since the beginning of its operations in Romania, the EBRD has committed over EUR 4.8 billion in various sectors of the country’s economy, mobilizing additional investment in excess of EUR 8 billion.

editor@romania-insider.com