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August 3, 2021
BUSINESS

Ioan Niculae opens oil factory at Zimnicea

The businessman estimates sales of EUR 20 M this year.

The InterAgro group, controlled by businessman Ioan Niculae, will open Thursday an edible oil factory in Zimnicea, in which he invested approximately EUR 35 M, which he estimates will have sales of EUR 20 M until the end of the year, Mediafax reports. The beneficiary of the investment, which creates 60 jobs, is Dropia Best Cooperativa Agricola, legally registered in August 2009 and formed through the participation of several founding members. The company accessed European funds which amount to approximately EUR 3 M out of the final investment that started in Q1 2011.
The factory can process approximately 750 tons of oily seeds each day. The sub-products resulting from the process – husks, chaff, grit – will either be burnt as fuel in the thermal plant, or will serve as animal fodder. “The oil produced in the InterAgro factory of Zimnicea will be sold starting this month both to the local market and to export. Until the end of this year we estimate sales of approximately EUR 20 M,” the company announces in a press release. The entry of InterAgro on the vegetal oil market comes at a moment when this industry, which has an annual turnover of EUR 300-350 M, is in a full process of consolidation. Ioan Niculae, owner of InterAgro group, is the only Romanian present in the Forbes Top of the world’s billionaires for 2013, with a wealth estimated at USD 1.1 bln, which granted him the 1,268th place at global scale.

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