English
Shareholders in Avicola SA - Iasi have decided to borrow 6 million EUR in several tranches and authorized the collateralization of such loans with property and cash collateral. Avicola is controlled by George Becali (68%), also the owner of the Steaua Bucharest football team. Becali"s representative on the Board, Catalin Ciubota, had previously said that the majority shareholder intended to completely modernize the company and bring it to EU standards.
The funding is slated for upgrading the abattoir, the farms, new equipment and a greenfield biogas plant. The biogas plant is scheduled for commissioning in November and will process poultry waste into electric and thermal energy. The unit will be located near the village of Razboieni and will cost some 2 million EUR. Approximately 15,000 tons of waste will be burned every year to produce 459 kw/h. The biogas plant will help Avicola save 1.7 million RON per year in electricity bills and waste disposal costs.
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