An agreement on a very large and rather surprising investment in Croatia signed today in the continental Croatian town of Petrinja between the town and an Indian entrepreneur called Arvind Kapur.
As Novac writes on the 14th of February, 2020, the Indian entrepreneur, who is the owner of a pizzeria chain and the director of Capitel Group, an investment and technology company, has expressed his interest in investing around 50 million euros in growing hazelnut, walnut and chestnut plantations in Petrinja. He contacted the Croatian Chamber of Agriculture (HPK), and President Mladen Jakopovic connected him to Petrinja’s Mayor.
The Indian entrepreneur has announced that it is possible that hazelnuts and other things grown in Petrinja will be bought by major European confectioners, for example, Ferrero Rocher, the manufacturer of Nutella, with whom he would make a deal. It is difficult to find reliable information about the Indian entrepreneur on the internet, except for his LinkedIn profile, but HPK President Jakopovic assures that he is a serious investor and that his business has been verified through the Indian Embassy.
In signing the agreement, the Kapur said that he hoped this investment in Croatia ”would come to fruition.”
”We believe that we can offer good technologies and processes in agricultural production. We have a policy to involve local farms and farmers in our business so that they can work together to improve their agricultural production. The agricultural production we’re planning to launch will be based on organic production, which will reduce the impact on climate change,” Kapur said.
The agreement, more specifically the non-binding Memorandum of Understanding, was signed with the Indian by the Mayor of on the premises of the town’s local government.
With regard to the location, Kapur visited several possible locations in the Petrinja area, more specifically the areas of Donja Bačuga, Gornja Bačuga, Jošavica and Šušnjar.
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