Sun oil refinery under construction in Romania's eastern region
In a significant development for the Romanian vegetable oil sector, Sunpro Oils (Romania) has announced a change in ownership. The current owners of the company, following the sale of Sunpro Group's participation, are now two Cypriot companies: Koksi Holding LTD and Erdigma [1].
Koksi Holding LTD, the entrepreneurial venture of Oksana Kushnir, has investments in various markets, including Ukraine, the Baltic countries, Cyprus, and Hungary. Erdigma Limited, an SPV (Special Purpose Vehicle) with publicly listed officials - Theodoros Loukaris (director) and Nikos Tsangararis (secretary) - is also part of the new ownership [2].
Sunpro Oils has confirmed that it will invest EUR 20 million in the development of an edible oil plant in Galati, leasing a 6-hectare plot of land for 49 years. This investment is focused on the production of vegetable oil [1][2].
The news about the sale of Sunpro Group's participation was reported by Economedia.ro. However, no information about the reason for the sale was provided. The company's new structure now sees Sunpro Oils (Romania) controlled 50:50 by Erdigama Limited and Koksi Holding Ltd [2].
The construction of the edible oil factory in the Galati Free Zone in eastern Romania has already received a construction permit. The mayor of Galati, Ionut Pucheanu, announced on Facebook that the works on the factory will begin shortly [3].
This investment is expected to create over 200 jobs in the region, but no specific information about the expected start date of works on the factory has been provided. Koksi Holding Ltd also has investments in real estate and the production of energy-efficient technologies, suggesting a potential for future growth and innovation in the Galati factory [4].
Sources: [1] Sunpro Oils invests EUR 20 million in vegetable oil plant in Galati, Romania. (2023). Retrieved from https://www.romania-insider.com/sunpro-oils-investment-galati-vegetable-oil-plant/
[2] Sunpro Oils (Romania) has a new owner. (2023). Retrieved from https://economedia.ro/business/sunpro-oils-romania-are-now-controlled-50-50-by-cypriot-companies-koksi-holding-ltd-and-erdigma/
[3] Galati mayor announces the start of works on the edible oil factory. (2023). Retrieved from https://www.galati.ro/galati-mayor-announces-the-start-of-works-on-the-edible-oil-factory/
[4] Koksi Holding Ltd. (n.d.). Retrieved from https://koksi.com/
- Koksi Holding LTD, with its investments spanning various industries such as finance, real estate, and energy-efficient technologies, alongside Erdigma Limited in the new ownership of Sunpro Oils (Romania), is expected to bring potential innovations to the forthcoming edible oil plant in Galati, which will focus on the finance aspect of investing EUR 20 million in the project.
- The Cypriot companies Koksi Holding LTD and Erdigma Limited, each with a 50% stake in Sunpro Oils (Romania), are poised to create an energy-efficient edible oil factory in the Galati Free Zone, potentially generating 200 jobs in the region and bringing growth to the local business environment.
