Bulgarian oil maker Oliva invests 25 mln euro in factory
Bulgarian vegetable oil producer Oliva has invested 25 million euro in its factory "Prima-M" in Polsky Trambesh, local media reported. The company plans a complete overhaul of the existing Oliva plant together with modernizing and upgrading the equipment. The project is expected to be finished in the summer of 2014, when the factory will be able to start operating at full capacity. It will open about 120 new jobs.
The reconstruction is financed by the European Bank for Reconstruction and Development (EBRD). In October 2012 the Bank extended a 22 million euro loan to Oliva to support the company’s expansion. The company makes use of the loan by constructing a new crushing facility, purchasing new oil extraction equipment and building a new silo.
Oliva bought the factory in 2011 for more than 4 million lv. Over 3 million lv. was paid for 68 buildings of the company and 1 million lv. for 92 acres land.
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