Romanian bakery producer Lidas, a family business launched in 1993, will inaugurate a bakery plant in the village of Mineri, Tulcea county, following an investment of EUR 4 million.

The project was supported by the Norway’s EEA Grants and is part of the company’s plan to expand to the frozen bakery sector, reports local Wall-street.ro.

The company owns its own mill, two warehouses, its own transport fleet as well as labs for testing the raw materials that are used. It recorded a turnover of almost EUR 10 million and a net profit of over EUR 124,000 in 2015. The average number of employees amounted to 156 the same year.

In the last three years, Romania has received financing worth EUR 26 million from Norway, Iceland and Liechtenstein for the development of 50 companies and NGOs. After Poland, Romania obtained the largest financing from the EEA and Norwegian Grants in the 2009-2014 period, namely over EUR 306 million.

The sums allotted to Romania in the 2014-2021 period amount to over EUR 0.5 billion.

editor@romania-insider.com