The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of the Turkmen tomato producer Agromar with a $2.5 million loan for the extension of the company’s production facilities.
According to the EBRD’s report last week, Agromar is a well-established brand on the home market as well as in Russia, Kazakhstan and the Kyrgyz Republic. The owner of the brand is the company Milli Hasyl ES, which plans to use the EBRD loan for an expansion of its hydroponics greenhouse. The company plans to construct additional 5 hectares of greenhouse facilities with advanced cooling systems.
The goal is to increase the annual production capacity from 1,500 tons to 3,000 tons with the majority of output aimed at export markets.
EBRD said the hydroponic greenhouses are a highly efficient technology to grow plants without the use of soil and reduced water consumption. The hydroponic greenhouses will allow increased control over growing conditions and resources use, by reducing water consumption by at least 75%.
Since the start of its operations in Turkmenistan, the EBRD has invested €293 million through 80 projects in a wide range of sectors.