Organic flour: They invest more than $ 100 million to start exports
01 Jul 2021
The disbursement will be to upgrade the plant that Molino Campodónico has in La Plata. 60% will be covered with a financing line from BICE.
With financing from the Foreign Trade and Investment Bank (BICE), Molino Campodónico announced an investment project to upgrade its plant located in the Buenos Aires town of La Plata, with the aim of opening the export market to refined organic flour.
It was announced by the president of the company, which is dedicated to the manufacture of products derived from wheat milling, Alejandro Campodónico, and the head of BICE, José Ignacio de Mendiguren.
During the meeting, held at the headquarters of the public financial entity, Mendiguren said: “It is an investment that aims to make production more technical with the aim of exporting higher value-added products in the medium and long term.”
For his part, Campodónico said: “Being able to access a line of financing adjusted to the reality of what the employer needs is key. Doing it with a bank like BICE gives us stability and allows us to focus on what we know how to do: produce flour and add value to generate wealth and foreign exchange for the country. “
The Molino Campodónico project includes the acquisition of two state-of-the-art machines for the fractionation of flour into 1 and 5 kg packages and automatic palletizing. Also, improvements are foreseen in the refined organic flour line and the adaptation of the facilities for the incorporation of the new equipment.
The project will be financed with a BICE loan of $ 63 million, which covers more than 60% of the total investment of $ 100,659,065, plus VAT. The funds will be granted for a term of seven years, within the framework of the productive investment line for SMEs with a rate discount from the Fondep of the Ministry of Productive Development of the Nation.
Based on this initiative, the firm hopes to improve its position in the refined organic flours market and increase its participation in the fractionated specialty flours segment. The company also hopes to export its production to destinations such as the United States and Europe.
Molino Campodónico has a current milling processing capacity of 330 tons per day. The company has plants in the cities of La Plata, Los Olmos and General Belgrano and a staff of 115 employees that it expects to increase from the investment announced today.
BICE actively participates in the industrialization of the sector, with continuous and concentrated disbursements in the production of derivatives of small and medium-sized companies. Between 2015 and 2021, $ 9,582 million (current) were disbursed in the wheat chain with more than 400 disbursements. 128 companies were served; 76% of them, SMEs.