EnglishSC Avicola SA Iasi will contract a 6 million EUR loan from Raiffeiesen Bank or other banks. "Mr George Becali, the majority shareholder in Avicola Iasi, intends to modernize the company and to bring it to European Union standards. The loan will be used for the modernization of the existing slaughterhouse and farms, for the acquisiton of state of the art equipment from Belgium and Holland, as well as for the construction of a biogas plant and maybe a new slaughterhouse", according to Catalin Ciubota, Mr. Becali"s lawyer.
One of the largest investments is the modernization of the poultry slaughterhouse, which will amount to approximately 4 million EUR. A similar amount will be necessary for the construction of the biogas plant, which will process waste from the company"s poultry farms. Construction will start in April and the pant will have a waste burning capacity of 15.000 tons per year, producing 459 kw/h.
After the third quarter of 2006, Avicola Iasi posted a turnover of 27.593.105 RON, product sales worth 21.628.738 RON and a gross profit of de 854.111 RON. The majority shareholder is George Becali, holding 68% in the company, while the Authority for State Assets Recovery holds 20,4% and SIF Moldova 7,2%.
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