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INVESTMENT PROJECTS PROFILES

PROJECT NAME:

AGRIBUSINESS, FOOD PROCESSING

Cultivation, processing of aromatic plants and production of essential oils

Information about project owner Company Name: Address: Telephone: Director: Legal status: Year of establishment: Company description Resenjer S.R.L. 30 Armeneasca str., Chisinau, Republic of Moldova (+373 22) 275 201; (+373 237) 42 856; (+373 691) 87 492 Gheorghe Jereghi Private, limited liability company 2000 The company has already established an activity of lavender cultivation on a surface of 95 ha, as well as the company applies mobile installation equipment for further extraction of lavender oil. The sales markets of the company are:

Local market Cosmetic JSC);

2%

(Moldovan

cosmetics

factory

Viorica-

Foreign market 98% (Great Britain);

Information on investment project Project summary The cultivation of aromatic and medicinal plants represents most profitable branches of the agriculture in Moldova. During the 19801990, Moldova was one of the biggest producers of essential oils and medicinal plants from the former USSR: about 140-160 tons of essential oils of lavender, sage, mint, dill, roses (app. 35% of the total volume of production in the USSR) and 3-5 thousand tons of medicinal flowers. After the collapse of the USSR this profitable branch was practically destroyed because of loosing its sales markets, as a result the current production represents 7-10% of the production level registered during 1980-1990. Resenjer SRL intends to implement a second project which forecasts the cultivation of essential plants on a surface of about 375 ha, with ultimate implementation of modern technologies for processing and extracting of essential oils. Lavender needs more investments than other essential plants, gearing a higher outcome, therefore the distribution of the land by cultivated plant will be as follows: lavender 125 hectares clary sage 100 hectares coriander 50 hectares dill 50 hectares soy-bean 50 hectares The land is going to be located on the lakeside with a surface of 5-10 hectares, where a mobile factory for plants processing will be installed. About 45 workers will be involved in the raw material cultivation, during harvesting period the number of workers will increase to 135 people. The project is foreseen to have a duration period of 15 years, after which the mobile factory may be shifted to another location. Total investments needed 347.272 EUR

INVESTMENT PROJECTS PROFILES

AGRIBUSINESS, FOOD PROCESSING

The projects profitability ratio 38,3% Pay-back period 3,6 years Estimated total investment costs Description Administrative expenses (registration of land renting contracts etc.) Land renting Agricultural expenses (plugging, sowing, planting, marking, etc) Processing and purification equipment, processing operations Unforeseen expenses TOTAL Value (EUR) 1.125 105.512 171.135 66.500 3.000 347.272

Preferred form of cooperation:

Joint-venture

Expected participation of parties in project implementation Local partner: 25% Foreign partner: 75%

INVESTMENT PROJECTS PROFILES


PROJECT NAME:

AGRIBUSINESS, FOOD PROCESSING

Grape Seed Oil Extraction

Information about project owner Company Name: Address: Telephone: Fax: Email: Director: Legal status: Year of establishment: Company description Olemed Farm S.R.L. 7 Mesager str., Chisinau, Republic of Moldova (+373 22) 59 33 29, 79 67 98; (373 69) 118920 (+373 22) 59 33 29 iurieg@yahoo.com Valeriu Dubcenco private, limited liability company 2001 Olemed-Farm Ltd was initially involved in development of clinical and pharmaceutical testing, registration and promotion of the grape seeds oil on Moldovan market. Manufacturing process was established on rented spaces using rented equipment. Since 2002, bottled (50 ml, 100 ml and 200 ml) grape seeds oil was registered in Moldova as Regesan, being distributed through pharmaceutical network. The product was presented at different international exhibitions and won several medals. In 2003, the company started to manufacture other three medicines, one of them Olizin and Xilometazolin - nasal drops for adults and children, being based on grape seeds oil, and another one Activated coal, based on the wastes of the grape seeds oil manufacturing. Information on investment project Project summary The investment project foresees the implementation of technologies for grape seed oil extracting. Although Moldova is historically grape wine producer, the raw material isnt used fully. Husked grapes are not further processed, in the best case they are used for animal feeding. Grape seed might be used for oil extracting, remaining pressed seed is used for tannin extracting, then for activated coal manufacturing. It is supposed that oil plant will be located close to wineries (raw material base). In order to obtain premium quality oil, as well as organic products it is recommended to buy grape seed mark from wineries, which has biological pure certificates. The equipment proposed for grape seed processing and oil extracting is manufactured in Germany and complies with international standards. The oil obtained by using this equipment is a premium quality product (with the crucial condition of high quality raw material and fast first processing). Grape seed oil production is a seasonal business, raw material preparation lasts from September to October, and the rest of time is oil extracting and packaging. In order to reduce seasonal character of business the process of oil extracting and filtering is proposed to extend from November to April, in the same time the necessity in oil press is reducing, 3 presses are enough for 10 tones

INVESTMENT PROJECTS PROFILES


of oil production.

AGRIBUSINESS, FOOD PROCESSING

The price of grape seed oil varies in terms of quality and packaging. The price of premium quality oil, which is supplied in 50 or 100 kg barrels is Euro 16-18 per kg, while oil in 50, 100 gr. is sold on Euro 24-25 per kg. The total amount of investment needed for project realization is estimated at 572.578 th. EUR. The cost of oil plant construction isnt taken into consideration. Starting from the second quarter of operation the project becomes autonomous, and does not need any additional investment from outside, only from the funds gained during the time of operation of the oil extraction plant. The accumulated retained (undistributed) profit of the project during the time of implementation (14 quarters) equals to 319,681 EUR. The pay back period of the project is 2.7 years from the moment the investments were made; it means that the pay back point will be reached on 11th quarter of the planning interval. Internal rate of return is 29%. Estimated total investment costs Description Equipment Containers for oil storage Building Manufacturing expenditures at start TOTAL Value (EUR) 251.475 27.103 270.000 24.000 572.578

Preferred form of cooperation:

Joint venture, credit

Expected participation of parties in project implementation Local partner: 20% Foreign partner: 80%

INVESTMENT PROJECTS PROFILES

AGRIBUSINESS, FOOD PROCESSING

PROJECT NAME:

Upgrading of production facilities for canning and juices

Information about project owner Company Name: Address: Telephone: Fax: Email: Director: Legal status: Year of establishment: Company description Basarabia S.R.L. 1 Tanchistilor str., Comrat, UTA Gagauzia, MD 800 (+373 298) 2 3 796, 2 54 65 (+373 298) 2 35 32 basarab@mtc-co.md Serghei Cimpoies Private, limited liability 1992 The enterprise "Basarabia" SRL is one of the largest manufacturers of natural juices and nectars without preservatives. Juice is issued in glass bottles, with a capacity of 1 liter and "twist off" cover. The enterprise is located in the south region of Moldova, in a zone favorable for cultivation of vegetables and fruits. The production capacities and raw material allows the enterprise to produce qualitative and inexpensive production under the trademark "Basarabia". The analysis undertaken by the company has defined the following strengths: The enterprise has formed a group of skilled experts; The enterprise is a fast growing company, (during 1996-97 the enterprise with a personnel of 30 persons had total sales in amount of 200-250 thousand US $, now the personnel is made by 200 person with total sales of 4-6 million US $); The enterprise managed to keep its share of the market, which confirms the correct strategy of market positioning and product promotion. The analysis of the market has confirmed the existence of a significant and an increasing demand for fruits and vegetables juices and semifinished products in the CIS countries. The enterprise could profitably use the market conditions if modernizing the production infrastructure. For the maintenance of the competitiveness, quality and conformity of production, ISO 9001-2000 certification is planned to be received. Information on investment project Project summary As a result of the detailed analysis of current and future customers needs and their comparison with potential of nowadays-used equipment, the company determined the following necessities: full modernization of the raw material processing department (manufacture of mashed potatoes and paste); partial modernization of the pouring of juices department.

INVESTMENT PROJECTS PROFILES

AGRIBUSINESS, FOOD PROCESSING

For the investment project implementation, two types of investments are required: 1. Investments in equipment: a) basic process equipment; b) auxiliary equipment; 2. Investments in production infrastructure: a) buildings and constructions; b) communications. The sum of the investments of the basic equipment makes 1.683.000 USD, of the auxiliaries and production infrastructure 265.000 USD. In 2005 it is planned to produce 3700 tons of pastes 20-28 BRIX, with an annual growth rate of 10% and 2750 tons of mashed potatoes (to produce 5,5 millions bottles of juice), with annual growth of 5%. The calculations which took into account the volume of investments, volume of expenses, sales and other indicators proved that promotion of the investment project should involve two types of external financial resources: 1. Long-term financial resources- 2.244.000 USD: a) Investments in equipment and production infrastructure 1.923.000 USD; b) Increase of working capital 321.000 USD; 2. Short term requirements in working capital 1.202.000 USD. The present project foresees attracting a long-term bank credit with under the following conditions: Credit sum 2.244.000 USD; Credit period - 4 years; Interest rate - 8 % a year. Project profitability: Profits will be generated beginning from the second year of investments The share of net earnings in sales will increase from 9% in 2006 year to 14% in 2010 year Payback period 4 years Internal Rate of Return (IRR) 23,6% The company has developed a detailed business plan, containing a market analysis, technology description, offers of equipment, detailed costs calculations. Estimated total investment costs Description Puree and paste production unit - Complete production line from TMCI Padovan - Other investments Juice bottling unit - Various equipments from SIG Manzini - Other investments TOTAL Value (USD) 1.616.000 1.443.000 173.000 330.000 240.000 90.000 1.946.000

Preferred form of cooperation:

Credit

INVESTMENT PROJECTS PROFILES


PROJECT NAME:

AGRIBUSINESS, FOOD PROCESSING

Production of quick frozen fruits and vegetables

Information about project owner Company Name: Address: Telephone: Fax: E-mail, web-page: Director: Legal status: Year of establishment: Company description: Moldavian Frozen Product (MFP) S.R.L. 7 Miron Costin str., office 304, Chisinau, MD-2068 (+373 22) 438116, 438248 (+373 22) 442112 linknm@mtc.md Naum Kemelmakher Limited liability, Moldo-German joint venture 2002 The company associates several companies specialized in the production of frozen fruits and vegetables, the main activity of the company being production of frozen products from fresh fruits and vegetables, trade, transport services, etc. During three years of its activity the company MFP managed to take its place on the market, being one of the few companies specialized in this market segment, and provided the production supply and the implementation of long-term contracts with Russian, Polish and Dutch companies. The main production is exported to Russia, also deliveries to Romania, Poland, Germany, and Ukraine have been also performed. Information on investment project Project summary The business of quick frozen fruits, vegetables and berries successfully develops in Moldova, mainly because of the availability of ecologically pure raw material, high base of raw materials, free trade access on increasingly growing markets of CIS countries, Romania. The company proposes an investment project for implementation of modern IQ quick-frozen technologies for production of creation of production of quick-frozen fruits and vegetables with a production capacity of 7 thousand tones per year. Generally the production process will comprise the following stages: 1. Acceptance of raw material, weighing, storage; 2. Washing, cleaning, sorting of production; 3. Freezing the prepared raw material entirely or cut in quick frozen device. 4. Packaging in 25 kg bags, storage in refrigerator at -200 degrees. The plant will be operating in the maturing season when raw material is highly available in large quantities, raw materials processing and production of products will be performed in 3 shifts. Transportation to target market is possible to be made by rail and road transport. The investment payback period is 5 years. The company prefers a

INVESTMENT PROJECTS PROFILES

AGRIBUSINESS, FOOD PROCESSING

credit line for a period of 5 years with an interest rate of 12%, or the creation of a joint venture between MFP and interested party, the contribution of parties in project implementation and profit distribution being negotiated. Estimated total investment costs Description Technological equipment Basic buildings and facilities TOTAL Value (USD) 936.000 1.408.000 2.344.000

Preferred form of cooperation:

Credit, joint-venture

10

INVESTMENT PROJECTS PROFILES

AGRIBUSINESS, FOOD PROCESSING

PROJECT NAME:

Setting up a Food-Processing Company for production of quick frozen and dried fruits and vegetables

Information about project owner Company Name: Telephone: Fax: E-mail: Director: Legal status: Company description Agromoldvita S.R.L. (+373 691) 322 77 (+373 22) 47 60 81 agromodvita@mail.ru Iurii Morari Private company The local company operates a privately owned land, with production and office premises designed for the implementation of investment project for production of quick frozen and dried fruits and vegetables.

Information on investment project Project summary The project envisages the creation of a joint venture to produce: Quick-frozen food staff made of fruits, vegetables, and semiproducts Food stuff produced on the basis of vacuum-sublimation drying (fruits, vegetables, berries, mushroom and dairy products) Foodstuff produced on the basis of vacuum-microwave drying (candied fruits, fruit sticks, milk & coffee drinks, vegetable flour for pancakes, various spices and greens). Products characteristics: Quick-frozen products maintain all vitamins, micro and macro elements, original taste, color and aroma. Value-added for consumer: quick cooking, ability to storage in big quantities, and no influence of seasonal factor. Dried fruits and vegetables preserve to the largest extent the natural conditions of raw materials. At the same time the ultimate moisture of the finished products is only 5% or less. Value-added for consumers: little weight, combined food rations, storage in briquettes for special consumers. The company products will be produced on an up-to-date technology in refrigeration and drying at the minimum costs. All this secures a high quality and environment pureness of the products. The company will be located in the northern part of Moldova, in the Otaci city near the Ukraine border. The premises will occupy 2.75 ha, in an industrial cluster zone on the territory of the Free Economic Zone Otaci. Implementation period: 0,5 years I stage setting up of Joint Venture II stage renovation and modernization of premises and production equipment

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INVESTMENT PROJECTS PROFILES

AGRIBUSINESS, FOOD PROCESSING

III stage assembling and trial operation of equipment IV stage beginning of manufacturing Target market: Russia Annual sales: 6,500 tones of finished products Sales by type of product: Quick frozen products 37% Quick frozen blends and ready made-dinner ratios 22 % Vacuum dried products 39 % Microwave dried products 3%. Main competitive reasons to attract customers and affect the sales are as follows: Low price due to reduced production costs Quality control in line with production and sanitary standards Mechanization of all stages of production process Flexible discount trade system Turnover to reach 11.2 million USD in the second year of production. Annual net profit - 4.9 million USD Pay-back period - 3.2 years The average rate of project return is 30.9 %, with the condition that 50% of the net profit will be reinvested. Estimated total investment costs Description Renovation of premises Acquiring and installation of equipment Working capital (i.e. raw material) TOTAL Value (USD) 2.300.000 4.400.000 1.400.000 8.000.000

Preferred form of cooperation:

Joint-venture

12

INVESTMENT PROJECTS PROFILES

AGRIBUSINESS, FOOD PROCESSING

PROJECT NAME:

Production of dried fruits

Information about project owner Company Name: Address: Telephone: Director: Legal status: Company description Aragonit S.A. 8 Komarov str., Donduseni, Republic of Moldova (+373 251) 2 28 37, (+373 22) 58 31 71, (+373 79) 45501 Ludmila Sosnovscaia Private, Joint stock company Company Aragonit JSC is located in Donduseni, North of Moldova. The enterprise was founded in 1998 by division from the enterprise Santal JSC established by privatization of the state regional enterprise of population domestic services in 1995. Major Companys facilities, equipment, and technologies are listed below: Industrial premises 600 sq.m. Store in the market region 20 sq.m. 5 units of garages 100 sq.m. Information on investment project Project summary The objective of the investment project is to set up production of dried fruits. Products to be manufactured: dried apple, plum, cherry and sunflower seeds. Value-added for consumers: preservation for a long period of time, taste capacity and high vitamin content, ecologically pure. Target markets: local, CIS and Western markets. Forecasted output: 1 tone of finished products per year. Targeted net profit Margin: 30 %. Planned sales: to increase to more than 0.5 million EUR by the third year of production. Estimated total investment costs Description Equipment Operational costs and raw material Modernization of the building TOTAL Value (EUR) 104.000 127.230 30.000 261.330

Preferred form of cooperation:

Joint-venture

Expected participation of parties in project implementation Local partner: 20% Foreign partner: 80%

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INVESTMENT PROJECTS PROFILES

AGRIBUSINESS, FOOD PROCESSING

PROJECT NAME:

Production and sales of fresh fruits, vegetables and grapes

Information about project owner Company Name: Address: Telephone: Director: Legal status: Year of establishment: Company description Dodastel-Gemi S.R.L. 30 Armeneasca str., Chisinau (+373 22) 275 201; (+373 237) 42 856; (+373 691) 87 492 Jereghi Gheorghe Limited Liability Company, private 1995 The current activity of the enterprise is the production and marketing of bread and bakery products. Dodastel-Gemi SRL will perform its business activity in order to meet the demand for fresh fruits, vegetables and grapes on both the domestic and the Russian markets Information on investment project Project summary The long-term strategy of producing fresh fruits, vegetables and grapes is oriented towards the efficient utilization of the production factors of the enterprise (orchards, the sectional cooler, the sorting department) and towards the penetration of the markets with a higher level of demand. This project implies renting of orchards, building of a refrigerator with the total capacity of 3.000 tons, building of a sorting factory, supplying the refrigerator and the sorting factory, purchasing of tractors, and agricultural mechanisms, purchasing of pesticides and fungicides. The implementation period is divided into several stages: - Organizational stage, which stipulates the assessment of the current situation of the orchards and dry pruning, deciding where to build the refrigerator and the sorting factory, the estimation of the volume of work and expenses; - The analysis of the equipment market for climate controlling refrigerators and sorting factories and choosing the most efficient alternative for our enterprise, choosing the most efficient type of equipment for processing raw material and packaging the output; - Purchase of tractors and other mechanisms for automatized operations; - Estimation of the necessary amount of pesticides and fungicides and their purchase; - Drawing up the necessary normative and technical documents; The calculated average net profit of the project is 1.480.500 EUR, considering 6 years of financial administration. The project profitability - 59,27 % The payback period of the investment project is 2,3 years.

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INVESTMENT PROJECTS PROFILES

AGRIBUSINESS, FOOD PROCESSING

Estimated total investment costs Description Agricultural expenses (machinery and equipment, pesticides, fungicide, etc) Equipment and building components (storage, sorting and packaging) Plastic containers Administrative expenses TOTAL Value (EUR) 102.000 1.892.000 480.000 24.900 2.498.900

Preferred form of cooperation:

Joint-venture

15

INVESTMENT PROJECTS PROFILES

AGRIBUSINESS, FOOD PROCESSING

PROJECT NAME:

Organizing the production of apple sauce at Prodcoop Cimilia

Information about project owner Company Name: Address: Telephone: Fax: E-mail, web-page: Director: Legal status: Year of establishment: Company description Prodcoop Production co-operative enterprise 127 Decebal Str., district Cimilia, Republic of Moldova (+373 241) 22079; 22179 (+373 241) 22070 moldcoop@moldova.md Victor Calinici Private, collective 1966 The main activity of Prodcoop is processing, storage of agricultural goods, producing of fruits, vegetables and meat cans. The sales markets of the enterprise are market of Russia, Belarus, as well the local market. Being the member of the Consumers Cooperation System, the enterprise has a large distribution network. The industrial center of enterprise has an area of 2500 m2, the total surface of the center being 9 ha. The balance value of the fixed assets of Prodcoop Cimilia constitutes approx. 580.000 EUR. Actually, Prodcoop Cimilia has disposable areas to satisfy the process of production, but the available equipment and machinery is physically and morally worn out and this does not allow producing competitive products. Information on investment project Project summary The main purpose of the project is the technological reengineering of the enterprise for producing apple puree. The modernization will later allow organizing the production of puree from other fruits (peaches, apricots, plums and sour cherries). For project accomplishment, it is needed to renovate the existent equipment and to purchase a line of aseptic canning. For the production of apple sauce there will be used the production area of the enterprise, a fridge warehouse and the necessary equipment for producing the apple sauce, thermal processing and aseptic canning. The enterprise has necessary knowledge in organizing the process of apple sauce production; advanced technologies are mostly needed at the division of aseptic conservation and canning, this being a more progressive method comparing with the usage of antiseptic substances, or packing semi-manufactured goods in glass jars. The sales of the final products will be oriented mostly to Russia. The financial needs for project realization are estimated at 446,000 EUR, which can be covered with a credits in Euro, with an interest

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INVESTMENT PROJECTS PROFILES

AGRIBUSINESS, FOOD PROCESSING

of 11% for a period of 36 months. According to the feasibility study performed by the enterprise the discounted payback period is 31 months and the average rate of return is 59,1%. Estimated total investment costs Description Purchasing and installment of equipment Working capital TOTAL Value (USD) 231.000 215.000 446.000

Preferred form of cooperation:

Credit, Other

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