Interagro takes out 3.5m euros from Rabobank for farming

Interagro Bucharest, controlled by businessman Ioan Nicolae, is negotiating a loan worth 3.5 million euros with Dutch bank Rabobank. Any funding that is secured will go to investments in farming, according to data from the Official Gazette. The InterAgro group owns 13 bread plants, one vegetable oil plant, meat and milk processing plants, as well as livestock breeding farms. Niculae’s companies also administer some 40,000 hectares of farming land, as well as 10,000 hectares that the businessman owns. Niculae stated at the beginning of the year that Interagro could be listed on the Bucharest Stock Exchange as a holding, which would contain the chemical plants of the group and part of the group’s farming business. The main companies to be included in the holding are the fertiliser factories. i.e. Sofert Bacau, Azochim Savinesti and Turnu Magurele.