Grup Șerban Holding (BVB: GSH), a Bucharest Exchange listed group founded in 1994 by local entrepreneur Nicolae Șerban, will invest EUR 62.5 million in a French fries processing plant in Sascut, Bacău county, and the expansion of the cold storage capacity for vegetables, the company announced in a note to investors.

Both projects are scheduled for implementation between 2025 and 2028.

By the end of 2024, Grup Şerban Holding will consolidate its position on the market as the main refrigerated warehouse in Romania, with a capacity of 21,500 tonnes. After the completion of the project, the group will have a total capacity of 51,500 tonnes of cold storage.

The investments will be co-financed through two projects approved for financing at the Rural Investment Financing Agency (AFIR), the non-refundable funds amounting to EUR 38 million.

The total investment in the factory amounts to EUR 47.2 million, of which EUR 28.3 million are non-refundable state funds, according to Ziarul Financiar.

"Through these two projects – the potato processing plant and the storage and processing halls – we are completing the cycle initiated by Grup Șerban Holding in recent years. These investments close the loop in our production chain: from harvesting to processing, storage, and delivery. This way, we achieve full control of the process, ensuring consistent quality and superior efficiency," said Irina Șerban, co-founder of Grup Șerban Holding.

The potato processing plant will have a capacity of 6 tonnes per hour of French fries and 1.2 tonnes per hour of potato flakes, with production aimed at both local and international markets. The plant's annual capacity will be 30,000 tons of French fries and 6,000 tons of potato flakes.

The expansion of cold storage capacity for vegetables includes the construction of 5 cold storage halls, each with a capacity of 6,000 tonnes, for a total capacity of 30,000 tonnes.

The project also consists of a logistics warehouse of 5,000 square metres and a sorting, washing, and packing line for potatoes, with a capacity of 10 tonnes per hour of finished product. 

iulian@romania-insider.com

(Photo source: the company)