2024-02-18 05:21:27
In the signing of a financing contract of 50.3 million euros with the Continental Bottling Industry SA. Eurobank proceeded, with the participation of the Recovery and Resilience Fund (REF) for the investment of a total of 62.8 million euros, which the company is implementing within the framework of the National Recovery and Resilience Plan “Greece 2.0” with funds from the European Union – NextGenerationEU .
An event was held for the contract on January 29, in the presence of the Deputy Minister of National Economy & Finance Nikos Papathanasis, the commander of the Special Coordination Service of the Recovery Fund Orestis Kavalakis, the president and managing director of the Continental Bottling Industry SA. Petros Sepetas and the deputy managing director of Eurobank Constantinos Vassiliou, in the Administration Building of Eurobank, in Athens.
The funding is part of the total investment of 62.8 million euros implemented by the company and falls under the Digital Transformation pillar of the National Recovery and Resilience Plan. The investment is financed by 50% from TAA resources (31.4 million euros) and 30% through a loan from Eurobank (18.8 million euros), while 20% is covered through the own participation of Epirotikis Viomhinias Embialosios S.A. .
The investment plan includes 79 modernization sub-projects, which will be implemented at the company’s three factories in the Prefecture of Ioannina, as well as supporting projects to increase production capacity and save energy costs, which are perfectly in line with the goals of “Greece 2.0”. The objective of the financing is the implementation of the investment plan of the Continental Bottling Industry S.A., which has at its core the use of pioneering emerging technologies to optimize the production process and strengthen the value chain of the company, which remains consistent in offering high quality products quality in the last 33 years of its operation.
“The loan agreement ensures the financing of an investment, which has significant dimensions, as it aims to modernize an export-oriented production company and will be implemented in its factories, located in the periphery of our country, in Epirus. The Recovery Fund – Greece 2.0, through its loan program, mobilizes investments that focus on technology and sustainability, supporting the development perspective of Greek businesses”, the director of the Recovery Fund, Orestis Kavalakis, pointed out in a statement.
For his part, the Deputy Managing Director and Head of Corporate & Investment Banking at Eurobank, Constantinos Vassiliou, noted: “With this agreement, a very important investment in the field of bottling water and soft drinks in the country begins, with the main characteristic being the modernization, the further digitization, the enhancement of innovation, the upgrading of the production process and the saving of energy. This investment further expands the company’s leading position in the market and captures the timeless vision of a purely family Greek business. At Eurobank, our main pursuit is the practical support of businesses that consistently look to the future, growth, sustainability and innovation, and we are proud of this partnership.”
Finally, the president and managing director of the Continental Bottling Industry SA, Petros Sepetas, made the following statement: “We are a company that has respected the consumer and tradition for 33 years, investing in the future. We are evolving and investing in modernizing infrastructure, optimizing energy costs, reducing our environmental footprint and digitizing our operation. 33 years later we continue to invest in quality produced products, in our principles and values, in our people, in Epirus, in Greece. We are proud of that.”