GALICIA GREENERY HOLDING BV
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Galicia Greenery Holding BV is a Dutch company specialized in setting up and controlling greenhouse projects for vegetables in the Black Sea region. The shareholders are all Dutch companies and individuals consisting of strategic developers, financial investors and two very important large Dutch horticulture cooperative companies. The first project of Galicia Greenery Holding BV is a 5.7 hectare greenhouse based in Lviv, West Ukraine, called Galicia Greenery. The greenhouse is 100% Dutch design and was constructed and assembled by a Dutch company using modern technology of the highest quality. In accordance to its long greenhouse tradition, The Netherlands enjoys an outstanding international reputation in horticulture. Galicia Greenery will cultivate tomatoes, lettuce and herbs. In a second phase bell peppers will be added to the assortment.
What is our funding objective?
Galicia Greenery offers a solution to the growing appetite of Ukrainians for fresh vegetables. Due to the growing gap between demand and local supply, Galicia Greenery has a positive outlook towards the future. Galicia Greenery will start by cultivating 5.7 hectares of greenhouse and has the objective to grow to 20 hectares. By producing locally for the local market, Galicia will ensure that deliveries are fresh daily, resulting in better quality products and almost no transport costs. As transport is limited there is almost no loss in quality of the vegetables. Vegetables will be branded as Dutch quality vegetables produced in Ukraine.
Why do we fund this investment?
Galicia will provide products and technology that are either unavailable or limited in the Liviv area of Ukraine. By providing fresh vegetables to the local market Galicia Greenery will supply the growing demand in Ukraine. Galicia Greenery benefits form the low cost of labor while the local off-takers benefit from the project as no costs for international transport and import are charged-on. This project will eventually set a new and improved standard for cultivating fresh products locally at quality standards and with proven technology.
- Region
- Europe & Central Asia
- Country
- Ukraine
- Sector
- Agribusiness, Food & Water
- Effective date
- 9/17/2013
- Total FMO financing
- EUR 4.00 MLN
- Funding
- Fund Emerging Markets
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B