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Signature(s)

Amount
€ 35,000,000
Countries
Sector(s)
Bulgaria : € 35,000,000
Industry : € 35,000,000
Signature date(s)
22/12/2023 : € 35,000,000
Link to source

Summary sheet

Release date
2 October 2023
Status
Reference
Signed | 22/12/2023
20230165
Project name
Promoter - financial intermediary
AGRIA FOOD PRODUCTION CAPACITY
AGRIA GROUP HOLDING AD
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 35 million
EUR 75 million
Location
Sector(s)
Description
Objectives

The project concerns the construction and operation of a processing plant for the production of edible oil from oilseeds, as well as the acquisition of railcars for the transportation of edible oil.

The aim is to support the development of sustainable primary production systems, supply healthy food and fibres and biomass for bio-based products and materials, as well as promote sustainability and resilience in rural and coastal areas through the improvement of existing or construction of new, rural and coastal infrastructure and facilities. As such, the related investments are in line with the 1.1.5. Bioeconomy Main Policy Priority Areas of the InvestEU Sustainable Infrastructure Window (SIW). The project will generate climate benefits, by producing renewable energy based on discarded sunflower seed hulls. It will also reduce greenhouse gas emissions through the modal shift from railcars instead of trucks to transport edible oil and agricultural products to the port of Varna.

Environmental aspects
Procurement

The project, located in an existing industrial area, far away from any nature conservation area, falls under the scope of Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU (amending Directive 2011/92/EU), as such local authorities concluded that a full EIA is not required. No environmentally sensitive zones will be affected. The plant, which will be SEVESO certified, is developed in line with national regulatory requirements and international standards to reduce emissions, will employ modern and efficient technologies, with low energy and resource consumptions, in line with the Best Available Techniques in the sector. The generated waste is neither significant nor of a dangerous nature, and the corresponding and appropriate disposal mechanisms are established. The main emissions expected for the plant are the emissions to air and waste water. Used water is collected and sent to the communal wastewater, and after treatment through a treatment facility is sent to the urban sewage network. The project is not included in the EIB Carbon Footprint, as both the absolute (11.8 kT CO2/year) and relative (8.5 kT CO2/year) emissions are below the 20 kt CO2-eq threshold. The project is considered to be Paris aligned - both against low carbon and resilience goals -as it operates in the bio-economy sector, it's not in an energy intensive industry, as well as it's not included in any CBR-excluded activities. The plant will also include a bio-mass boiler fed with discarded husks, for the generation of renewable energy, covering the entire demand for heat from the operations. It will also generate renewable energy, by burning the discarded husks, and transforming them in thermal energy. The acquisition of railcars for the transportation of the edible oil is considered as modal shift, by avoiding the transportation of the products by trucks.

The promoter is a private company and the project will be developed on privately owned land, therefore, it is not required to follow the EU public procurement directives and may undertake private procurement procedures according to the EIB's Guide to Procurement (GtP).

Milestone
Under appraisal
Approved
Signed
24 October 2023
22 December 2023
Related projects
Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - AGRIA FOOD PRODUCTION CAPACITY
Publication Date
28 Oct 2023
Document language
Main Topic
Lending
Document Number
169004943
Document Focus
Environmental Information
Project Number
20230165
Sector(s)
Regions
Countries
Publicly available
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