EBRD lends EUR 23 million to Eti to finance Craiova plant

The European Bank for Reconstruction and Development EBRD will grant a EUR 23 million loan to Turkish company Eti to co-finance the construction of a biscuit and cookie factory in Craiova, the lender announced. The cost of the total investment in the plant stands at EUR 40 million. The Craiova plant is Eti’s first production capacity outside of Turkey.

Eti owns seven plants in Turkey, where it manufactures 45 brands of biscuits, cookies and chocolate. Almost 10 percent of its production is exported.

The plant will cover a surface of 75,800 square meters, out of which 18,500 sq m are to be devoted to the factory itself. The unit will reach a production capacity of 11,000 tonnes in its first year, according to the company’s estimates. EBRD has granted so far financing worth EUR 7 billion for 366 projects in Romania. At the same time it mobilized for these investments EUR14 billion from other sources.