Hindu tycoons bet on Romanian agriculture and buy 2,500 ha in Southern Romania

The powerful Gupta family, one of the most powerful business dynasties in India alongside Lakshmi Mittal, see investment opportunities in Romania. Hindu tycoons bought two farms of 2,500 hectares in Contesti village in Teleorman county, Southern Romania, zf.ro informs.

The farms were owned by Chivu family, traditional farmers in Romania.

Indians locally operate via Transdanube Industries company, an entity through which previously announced plans to build a steel plant in Oltenita, Calarasi county, South-Eastern Romania. They are internationally known by African Industries Group, with important presence in Nigeria.

The negotiations for Chivu family’s farms took more than six months, and the documents were initialed two weeks ago. The transaction value was not disclosed.

DMX Royal and Agroholding Contesti farms rely on long term leased land and have a portfolio of lands controlled by lease contracts that will expire in 22 years. Only 3 percent of the lands of the two farms are owned.

 

 

African Industries GroupfarmsGupta familyHindu tycoonsRomanian agricultureTeleorman countyTransdanube Industries
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