The China-CEE Investment Cooperation Fund II has completed the acquisition of 15 grain silos in Romania from local agro-business company Brise Group, it said.

The facilities will be further modernised to enhance the discharging and loading rates, improve storage and treatment related services as well as trace-ability, CEE Equity Partners Ltd, the sole investment adviser to the fund, said in a statement last week.

The fund will invest about 60 million euro ($66.9 million) in a purposely structured Romanian company for the modernisation, integration, development and construction of open access grain hubs and terminals, CEE Equity Partners said in April.

The China-CEE Fund II was created in November 2017 and completed its first closing in February 2018 with total commitments of $800 million from China EXIM Bank, Hungarian EXIM Bank, Silk Road Fund and CEE Equity Partners Ltd.

The Fund is Registered in Luxembourg as The China Central and Eastern Europe Investment Co-operation Fund II SCS SICAV-SIF.