BSTDB promotes high quality standards in the Romanian dairy production
Press Release | 14-Mar-2012
The Black Sea Trade and Development Bank (BSTDB) is providing a EUR 30 million loan to Olympus Romania, part of Tyras Group, Greece. The seven year loan will finance the company’s investment program in the new dairy plant in Brasov. The plant was inaugurated in November 2011 and its construction is part of Olympus Romania overall investment plan of EUR 55 mil including an initial self-funded investment.
The BSTDB loan will support the Company’s investment program, enabling Olympus Romania to substantially increase its efficiency and competitiveness, and helping it comply with high environmental and quality standards for its milk, yogurt, cheese and juices produced for the Romanian market. It will also support exports to international markets, including to Bulgaria and Greece.
“The operation has an important development impact through modernization and export capacity building, as well as promotes regional trade and investment. It reflects the dual mandate of BSTDB, as a regional development institution, to support the economic development and regional cooperation between our member countries”, stated Mustafa Boran, BSTDB Vice President Banking at the signing of the loan agreement.
”The first months since the launch of Olympus new dairy factory in Halchiu, Brasov, have proved that we are on the right track and have encouraged us to continue our development in Romania. The loan from BSTDB will allow us to further expand our operations, with the aim to launch new products in the market and increase our export capacity”, declared Dimitrios Sarantis, President of Olympus Group.
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Olympus Group has been present in Romania since 1999. During the last 12 years, it developed various programs for supporting Romanian farmers in their effort to improve the animal raise and care methods and for reaching higher quality standards in what milk collection is concerned. During 1999-2011, the total investment of Olympus group in Romania reached EUR 70 mil.
The group of companies, owned by a third-generation dairy producer family, has its headquarters in Trikala, Greece, and operates in 34 countries, including markets such as the USA, Germany and Italy. It currently holds five production units in Greece, Bulgaria and Romania, which produce dairies and natural juices. For more information, please access www.olympusdairy.ro
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is SDR 3 billion (appx. EUR 3.3 billion). BSTDB is rated long-term A by Standard and Poor’s and A3 by Moody’s.
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