EBRD finances the construction of an olive oil plant

TIRANA, 23 FEB 2009 — Despite the global economic crisis, Albanian and foreign investors have invested their money into the construction of an olive oil plant. It is a natural olive oil plant investment worth 6.5 million euro undertaken by an Albanian business group, Agrotal. EBRD also invested in the project, becoming a 30% shareholder. Agrotal owns the remaining 70%. It was also financially supported by the Italian government.
The plant, situated in Ndroq, Tirana, is considered to be one of the 4 best of its kind in Europe thanks to its technology, the construction standards, and the quality of the oil it will produce. It has a processing capacity of 17.5 tons of olives per hour or 25000 tons of olives per year. Such a capacity is actually more than Albania can supply. However, the given capacity seems to comply with the government’s strategy to increase olive production in the country in the near future.
The plant was inaugurated last weekend. Many foreign ambassadors and representatives from the Ministry of Agriculture and EBRD attended the ceremony.
Natural oil, the extra virgin olive oil, represents a registered brand in accordance with European standards.