EIB Funds New Sunflower Oil Plant in Northern Bulgaria with EUR 35 Million Loan

The European Investment Bank (EIB) has inked a significant deal with Kristera AD, a division of Agria Group Holding, providing a EUR 35 million loan to facilitate the establishment of a state-of-the-art sunflower oil processing facility in Northern Bulgaria. This financial agreement, supported by the InvestEU program, aims to spur additional investments and promote sustainability in EU policy areas.

Agria Group Holding, a prominent Bulgarian grain producer and trader, will utilize this support to enhance sunflower seed production, expand access to global markets, and establish new employment opportunities. This initiative, with an estimated EUR 75 million project cost, emphasizes job creation and sustainability in rural regions.

The forthcoming sunflower oil processing plant in Popovo, Northern Bulgaria, will incorporate eco-friendly technology to produce renewable energy from discarded sunflower seed hulls. Additionally, the project includes acquiring railcars for transportation to Varna's Black Sea port, effectively reducing greenhouse gas emissions.

EIB Vice-President Kyriacos Kakouris highlighted the project's significance in fostering sustainable regional development, promoting social equality, and advancing economic growth.

Agria Group Holding's CEO, Emil Raykov, expressed the project's pivotal role in diversifying trade, reducing dependencies, creating job opportunities, optimizing logistics, and enhancing financial operations.

Agria Group Holding AD, a major Bulgarian conglomerate, operates in agricultural production, grain storage, and trade.