Global Grain International, a Romanian subsidiary of Moldovan agri group Trans-Oil Group controlled by Vaja Jhashi, announced that it has received state aid worth RON 121 million (EUR 24 million) from the Government of Romania through the Investalim grant scheme, according to Mold-Street.

According to the group, this significant financial support is essential for the strategic development of the company in Romania.

The money will be used for the construction of an oilseed processing unit.

"The state aid granted will be allocated for the construction of a state-of-the-art processing unit in Ialomița County. This new factory is designed to process up to 300,000 tonnes of soybeans or rapeseed annually, strengthening Romania's agricultural processing capabilities and contributing to the local economy. The total costs for the construction of the processing unit are estimated to reach up to RON 212 million (EUR 42 millon)," according to Trans-Oil.

"This new facility will not only increase our operational capacity but will also bring sustainable economic benefits for Ialomița County and beyond," commented Radu Mușinschi, Trans-Oil Group Country Manager for Romania and Serbia.

(Photo: Evgeniy Salov/ Dreamstime)

iulian@romania-insider.com