Since 1994, Asconi SRL has been working in the field of winemaking aiming to produce high quality wines. During the last 10 years, along with the production of wines, the company started to develop rural tourism providing accommodation in traditional Moldovan houses and authentic restaurant services.
The EU, through the European Investment Bank (EIB), supports Asconi in increasing its competitiveness, both inside and outside the country. In this context, the company received a loan worth 1,430,920 euro for a period of 10 years. The loan was financed by the EIB in the frame of its „Fruit Garden of Moldova” credit line and was disbursed by BC Moldova-Agroindbank SA. The loan is intended for the construction of production warehouses, the installation of new production lines, the construction of a swimming pool with water slides, the establishment of stores to sell and promote Asconi’s products, as well as the purchase of agricultural machinery to work in the company’s vineyards.
In addition, the company plans to invest into the installation of a wastewater treatment plant and photovoltaic panels for which the investments will be made in the second investment phase (January-March 2021), also with finance from EIB resources.
For the preparation of the investment project, Asconi received complex technical assistance of the “Fruit Garden of Moldova Project” funded by the EU: Individual consultations provided by national and international experts and a study visit to Germany in March 2020 during which possible solutions for wastewater treatment were studied and the most suitable technology chosen. From the date of applying to “Fruit Garden of Moldova” to the disbursement of the loan, the company also received advice and assistance in preparing the package of documents requested by all institutions involved.
By implementing the investment project, Asconi aims to develop the company’s capabilities both in production as well as in services with the goal to attract more customers, offering quality wines and a full range of touristic conveniences: Accommodation, restaurant, entertainment. In this way, the project will help keeping the 217 permanent jobs, which Asconi presently offers to the Moldovan labor force. Moreover, 54 new jobs are planned as a result of the EIB financed investment, of which 30 in the services sector and 24 in production. This will be a remarkable outcome as at the moment wineries, due to the coronavirus pandemic, rather consider laying off workers instead of hiring new ones.
Until now, a new bottling line for sparkling wines has been purchased with the support of the project and the area for maturation of sparkling wines is under construction. At the same time, the paving of the production sector and the construction of a swimming pool are in full swing. By the end of September, 7 tractors to mechanise work in the vineyards will be delivered.
Support in preparing the package of documents
During all the process leading to financing, Asconi received support from “Fruit Garden of Moldova” to be able to prepare the package of documents requested by the partner bank and the EIB as well as to elaborate a business plan. This support was possible thanks to the platform of business service providers –consulting companies who partner with “Fruit Garden of Moldova”.
Currently, the EIB project cooperates with 12 consulting companies that have passed an accreditation process, and namely:
- Alternative Internaționale de Dezvoltare
- Gateway & Partners
- OBD Group
- Promo Terra
- United Solutions
This platform has helped to increase the number of success stories. The consulting companies are making an important contribution to the development of the horticultural sector in Moldova which – as the case of Asconi shows – may also let the country become an attractive tourist destination.