Magnate Ioan Niculae goes fishing in sweet water

• Businessman Ioan Niculae enters the fishing business and wants to build a canned food factory • On the same day, the businessman created another company that would manage a milkcow farm

Fishing and milk production are the new businesses of the agro-industrial group "Interagro", controlled by Ioan Niculae, one of Romania"s greatest businessmen.

The "Interagro" group has diversified its operations - production of grain and technical plants, exports of chemical fertilizer produced in its own chemical plants - by setting up two new companies on the same day.

The first - "Donau Fish"- was set up on June 15, in the county of Teleorman, in the village of Suhaia. The company has a share capital of 10,000 lei, and its main line of business is sweet water fishing.

"The incorporation of this company represents a premiere when it comes to our main line of business", said Ioan Niculae.

The businessman said that the company was created because the group has owned several lakes near the Danube area for years.

"We will have processing operations and we are also looking to produce canned fish", Ioan Niculae said.

When asked if the creation of this company comes as a result of the unlocking of the European funds available under the Operational Fishing Program, Ioan Niculae said there was no connection.

The second company that was created is "Interagro Lactate". The company is also located in the county of Teleorman, and was also created on June 15th, but in the southernmost point of Romania, the town of Zimnicea.

The company has a share capital of 5,000 lei, and its line of business is the production of dairy products and cheese.

"I incorporated this company because I have set up a milk farm with 400 cows", Ioan Niculae added.

Also in Zimnicea, the businessman has created in November 2009, the first bio-ethanol refinery (ecologic fuel) of South-Eastern Europe.