Beet factory negotiations start

The Belgian beet growers' cooperative CoBT has sufficient supply of beet for its new factory to be built. The equity targets were also met. However, the banks remain skeptical.

CoBT can have access to the supply of 1.625 million tons of beets per year, for at least 10 years. €134 million is also available in equity, including from 1.400 beet growers and 200 sympathizers. Investors have also pledged another 64 million. 

The Walloon government is also positive about the construction of the factory. It has transferred €12 million in subsidy and all permits for the factory have been obtained. The only problem is that the banks are skeptical. More than €200 million in capital is still needed. That writes Farmlife.be.

Anne-Jan Doorn

Anne Jan Doorn is an arable expert at Boerenbusiness. He writes about the various arable farming markets and also focuses on the land and energy market.

aj.doorn@boerenbusiness. Nl

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