TRANS OIL GROUP TO BUILD VEGETABLE-OIL PRESSING FACTORY IN GIURGIULESTI PORT

The Trans Oil Group is intending to realize a US$22-million project in the Moldovan International Free Port of Giurgiulesti [on the Lower Danube River] – to build a vegetable-oil pressing factory, Company Director Vaja Jhashi announced during his meeting with Moldova’s Minister of Economy and Infrastructure Vadim Brinzan and the United States Ambassador Extraordinary and Plenipotentiary to the Republic of Moldova, Dereck Hogan, in the Port on Wednesday.

In his words, the enterprise’s production capacity will be 700 tons per day. The construction is to be completed by early 2021. The project will be remarkable for its using the most up-to-date technologies. The new Trans Oil production facility will permit to build up the exports of the final produce – vegetable oil, instead of the previously exported raw material – sunflower seeds.

“This means that we will create new hi-tech jobs, and the added value will be remaining in Moldova”, said the Company Director.

Vaja Jhashi informed the guests with about work of his company in the Giurgiulesti Port and said that presently the company facilities can ensure the storing of more than 70,000 tons of grain.

“In the nearest future we will launch an independent pneumatic grain transportation line 515 meters long with a capacity of 250 tons per hour. The line will unite both of the Trans Oil terminals in the Port. As a result of this project, they will be able to handle over 1.6 million metric tons of grain per year. The volume of investment in the pneumatic line construction amounted to about US$1.6 million”, said Vaja Jhashi.

The company director called that grain transportation line “a unique project not only in Moldova but in the whole European and Asiatic area”.

“There are many facilities working in the world that use pneumatics for displacing loose and granular construction materials. But for transferring grain, including e.g. corn, you need to observe certain strict parameters such as flow speed and many others. Grain is transported in the line by portions, but surrounded by an air envelope. The project has been realized with the attraction of Russian and Ukrainian companies. It is very important for us to use the most up-to-date technologies in our business and thus bring them over to Moldova”, said the Company Director.

Two prominent rating agencies, Fitch and S&P, have given the “B” (Stable) rating to the Trans-Oil Group.

Trans-Oil is the largest producer of vegetable oil and refined bottled vegetable oil, with corresponding market shares of 80% and 90%. It is also the largest exporter of sunflower seeds and wheat from Moldova. The Group owns 75% of all storage facilities for grain in Moldova, a port terminal, a fleet of rail cars and trucks.

The Group has a solid client base comprising both international and regional end-users and trading houses from Europe, Southern Mediterranean, Turkey, and Africa.