Romanian lender BRD Groupe Societe Generale said it has extended a 2.3 million euro ($2.7 million) loan to local walnut kernels producer Transilvania Nuts, according to SeeNews.com.
Transilvania Nuts will use the loan to finance its working capital needs, BRD said in a press release on Monday.
“We are close to Romanian companies, to their development plans and we are honored to work with Transilvania Nuts, a business that we have supported since the first phases of the project,” BRD deputy general manager and corporate banking activity coordinator Yves Lallemand said.
In 2019, BRD lent 3.1 million euro to Transilvania Nuts for the construction of its walnut processing factory in Ciugud, Alba county – a project co-financed by EU funds.
The factory located in central Romania was completed in October 2019 and has a processing capacity of 5,000 tonnes per year. Its products are currently exported in 26 European and Asian countries.
“The support provided by BRD has given us the impetus to develop one of the most efficient walnut production and processing units globally,” Transilvania Nuts CEO Alexandru Chiric said.
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