Construction of a new Sunoil refinery ongoing in eastern Romania
SunPro Oils (Romania) Expands Vegetable Oil Production with EUR 20 Million Investment
SunPro Oils (Romania), a company focused on the vegetable oil industry, is set to expand its operations in Galati, Romania. The company, currently owned by a Ukrainian group named SunPro, announced in 2023 that it would invest EUR 20 million in an oil factory in the Galati Free Zone.
The investment, which will be made on a 6-hectare land plot leased for 49 years, is a clear indication of SunPro Oils' primary interest in vegetable oil production and processing. The works for the oil factory are expected to begin shortly, with equipment already starting to arrive.
Sunpro Group, one of the original owners with a 25% participation, has sold its stake in Sunpro Oils (Romania). The Romanian company is now controlled 50:50 by Cyprus-based Erdigama Limited and Koksi Holding Ltd, a company active in the markets of Ukraine, the Baltic countries, Cyprus, and Hungary.
Erdigama Limited, which appears to be a Special Purpose Vehicle (SPV), and Koksi Holding Ltd, are now jointly in charge of Sunpro Oils (Romania). Nikos Tsangararis, listed as a secretary of Erdigama Limited, and Theodoros Loukaris, a director of the same company, are associated with the management of the newly restructured company.
Cypriot entrepreneur Oksana Kushnir is associated with Koksi Holding Ltd, which also has investments in real estate and the production of energy-efficient technologies. No specific information about Erdigama Limited's investments or business ventures was provided in the article.
The future oil factory, planned by Sunpro Oils (Romania), is located in the Galati Free Zone in eastern Romania. The construction permit for the edible oil factory has already been granted, and the investment is expected to create over 200 jobs.
The news was reported by Economedia.ro, with no changes in the location, timeline, or investment amount for the Sunpro Oils (Romania) oil factory in the Galati Free Zone.
SunPro Oils (Romania) has interests extending beyond just vegetable oil production, as their new partners, Erdigama Limited and Koksi Holding Ltd, are active in finance, real estate, and energy-efficient technology markets. The new joint management, with Nikos Tsangararis and Theodoros Loukaris from Erdigama Limited and Oksana Kushnir from Koksi Holding Ltd, are planning to utilize the EUR 20 million investment in the oil factory primarily for energy-efficient production processes.
