Hard work and determination is behind the success of a joint venture involving Solotrans Agro, Solocristi Trans, Eximiusfruct, Sera Nostra, and Fratii Rogojina, all managed by Viorel Revenco, who built five identical S 200G greenhouse blocks, each one covering 5,200 sq m. The greenhouse complex is located outside the village of Singereii Noi in Singereii County, Moldova.
Revenco started at the bottom and has grown the group of companies to earn a position on the market as a prosperous business. In 2021, the Moldovan farmer obtained a grant to build the greenhouses, an irrigation system and a water collection basin. His ambition and determination gained him approval for financing through the EU4Business-EBRD Credit Line.
“The loan application process was very easy and fast,” says Revenco. “We applied for funding in April 2021, and by July, we had the money.”
The total cost of the project was estimated at €727,000, out of which €617,950 was Revenco’s personal contribution, and €109,050 was provided by the credit line.
With this money, Revenco was able to built greenhouse blocks covering a total area of 2.6 ha based on the EN13031-1:2019 European Standard. The blocks are equipped with an irrigation system and water collection basin, and are connected to utilities, such as water and gas. More than that, the farmer purchased cultivation machinery: sprinklers, tractors and trailers.
“In 2021, we cultivated tomatoes,” says Viorel Revenco. “This year we’re growing cucumbers, which find their way to the shelves of shops and local markets starting in March. All our products are grown organically. We don’t use nitrates.”
The vegetables grown by the five companies in the venture are sold at the Revenco wholesale market and can also be found in major stores in Chisinau.
Revenco started this business with dedication and enthusiasm, with the main goal of offering consumers organically grown produce. So, the group decided to double their greenhouses. For this purpose, Revenco applied again this year for a credit line, to expand the greenhouses and the range of crops.
The EU4Business-EBRD Credit Line was launched by of the European Union under its EU4Business Initiative and the European Bank for Reconstruction and Development (EBRD) to support SMEs in the Republic of Moldova by improving product quality and modernizing services.
The EBRD supports businesses with much-needed finance through local partner banks, which allows them to invest in efficient and modern equipment and technologies. EU funds complement investments with technical expertise and provide incentive payments to companies for successful completion.