Norofert (BVB: NRF), a producer of organic agricultural inputs and biotechnology provider for agriculture in Romania, said in an announcement at the Bucharest Stock Exchange that it was contracting non-repayable funds worth EUR 2 million for the construction of a production facility and biotechnology laboratory in Brazil.
Its subsidiary, Norofert do Brasil LTDA, will develop the new industrial facility in Guatambu, Santa Catarina state.
Located on a 3-hectare plot, the facility is designed for the production of agricultural inputs and for biotechnology research and development, with a high-capacity laboratory.
The land is leased to Norofert do Brasil LTDA for an initial period of ten years, with the possibility of extension and subsequent acquisition.
Last year, the company announced the official launch of the fertilizer production line Norofert Brasil LTDA in Brazil’s Chapecó.
The second Norofert do Brasil factory complements the already operational unit, which will be used exclusively for the production of biological plant protection products. The new factory will integrate production, storage, quality control, and its own laboratory for the production and multiplication of bacteria, reducing dependence on suppliers and giving Norofert do Brasil better control over costs, deadlines, quality, and product development, the company said.
The total estimated investment, cumulating the two contracted financing lines, is approximately 12 million Brazilian reais (EUR 2 million). The financing is provided by Banco Regional de Desenvolvimento do Extremo Sul, BRDE, a public development bank in southern Brazil, through two financing contracts, one of which is under the Inovacred program run by Finep, the Brazilian agency for innovation and research.
The facility, with a planned capacity of approximately 70,000 liters per day, will produce microbiological inoculants, biofungicides, bioinsecticides and bionematicides. The targeted portfolio covers multiple needs in modern agriculture, from plant nutrition and soil health to biological crop protection.
“Through this project, we are building our own production, research, testing and marketing platform in Brazil, not just a local factory. Brazilian agriculture represents a market of approximately 96 million hectares for solutions dedicated to productivity, soil health and regenerative agriculture. With the portfolio maturing, certifications obtained, distribution expanded and penetration increased in the Brazilian market, we see significant scaling potential compared to the initial stage,” Vlad Popescu, Chairman of the Board of Directors of Norofert, explained.
Since 2020, Norofert has been listed on the Bucharest Stock Exchange’s AeRO market, and from October 2021, the company’s shares have been included in the BETAeRO index.
(Photo: Michal Bednarek | Dreamstime.com)
simona@romania-insider.com
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