Farmina Pet Foods investing EUR 14.5 million in expanding production in Indjija – Raw materials to be procured from local farmers
Farmina Pet Foods will invest a total of EUR 14.5 million in the expansion program, which will include the introduction of a new production line. The plans include increasing the production of dry food and an investment in a facility for the production of wet food for pets.
The EBRD loan will be complemented by a loan in the same amount provided by Societe Generale Bank Serbia.
– By supporting Farmina, the EBRD is supporting foreign direct investments in the Serbian agribusiness sector, local producers, as well as strengthening the competitiveness of the private sector. Famina will be procuring raw materials for its first factory of wet food for pets from Serbian farmers. The agribusiness value chain is one of the main elements of the EBRD strategy for Serbia – said Miljan Zdrale, the EBRD's regional manager for the agribusiness sector for Central and Southeast Europe.
Farmina Pet Foods is a member of the Farmina Group, which is present in more than 50 countries throughout the world. It was founded in 2006 in Serbia and it started producing dry pet food in 2010. The company produces pet food for Serbia and other markets in the region, while also exporting outside the region. Farmina focuses on premium quality products and aims to increase its presence in the current markets, as well as to expand to new markets.
– The beginning of the cooperation with the EBRD is very important for our company. We are glad to have such a strong partner and we believe that this confirms our company's quality. We see the cooperation with the EBRD as the backbone of further growth – added Gabrielle Vecchi, financial director of the Farmina Group.
Since the start of its operations in Serbia, the EBRD has invested around EUR 4.4 billion in more than 200 projects throughout the country. The bank invests in numerous sectors of the economy in order to stimulate the development of the private sector and regional integration, the EBRD report says.
As representatives of the investor say, the local management is also very pleased with the new projects.
The president of the municipality of Indjija, Vladimir Gak, pointed out that he was extremely satisfied that Farmina was expanding its production capacities.
– This proves that the municipality of Indjija was the right choice for investments. Farmina Pet Foods is certainly one of the most important foreign investments in our municipality, so the expansion of the capacities and the possibility of employing people from our city is a great incentive for us and also a proof that we are on the right track as a municipal authority – Gak said.
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