The European Bank for Reconstruction and Development (EBRD) is providing a $15m loan to Floarea Soarelui, a manufacturer and distributor of edible oil in Moldova.
A subsidiary of the WJ Group, one of the largest exporters and processors of grain and oilseed in the CIS and eastern Europe, Floarea Soarelui holds 40% of the edible oil market in Moldova and exports crude and bottled oil as well as meal and cake resulting from seed processing to countries in the EU, south-eastern Europe and the CIS.
The funds will help Floarea Soarelui purchase new equipment and procure oilseed.
The project includes the purchase of a new oilseeds dryer and toaster, which will help reduce the consumption of natural gas by almost two times and minimise the waste of raw materials.
In addition, the company will introduce a separation hydration line for crude oil, which will improve the quality of crude oil and increase the efficiency of production.
The project will help Floarea Soarelui improve the quality and the competitiveness of its products on internal and international markets.