BELGRADE (Serbia), June 13 (SeeNews) - Serbian vertically-integrated agro-industrial conglomerate MK Group is set to get a 45 million euro ($56 million) loan from the International Finance Corporation (IFC), data from the IFC website indicated.
MK Group has embarked on an 87 million euro investment plan that comprises the acquisition of local processed meat products maker Carnex AD, the upgrade and expansion of Carnex’s vertically-integrated operations, expansion and modernization of the group’s primary agriculture operations and permanent working capital to support the growth of its operations, an overview of the project posted on the IFC website indicated.
According to data from the website, the IFC loan was approved on June 6 and is pending signing.
The investment project will enable MK Group to further diversify and expand its operations vertically and horizontally in sectors where it already operates as well as adjacent industries, namely livestock and meat production.
Based in Belgrade and Novi Sad but with operations across Serbia and Ukraine, privately-owned MK Group is involved in agricultural crop production, sugar production, storage, transportation and trading of agricultural commodities, and other miscellaneous activities.