Argentine Olive Ranch, an American investment group headed by Ralph Rybacki, has announced that it will put up $11.9 million towards the purchase of a 2,471 acre olive plantation and the construction of a new olive oil factory in the Argentine province of San Juan.
The company already controls roughly 1,235 acres of olive plantations in the city of San Rafael, Mendoza, where they recently opened a new fast food establishment called Hollywood.
Construction of the new factory will begin in 2014 and will be used to process two main olive varietals, Picual and Arbequina. Located in the town of Las Tuscas, Calle Fértil, the facility will feature an electric line to facilitate the production of olive oil and state-of-the-art pumps used to extract water from the soil.
Argentine Olive Ranch has invested in more than just agriculture in recent years. The group currently finances Algodón Mansion, a luxury hotel in the heart of Buenos Aires, and Algodón Wine Estates, a vineyard-style resort in Mendoza.
“It’s an opportunity not only for business but for the region as well,” Rybacki said.
“I always wanted to contribute to development that goes above and beyond, that is, to invest in and help people. After researching different areas of Argentina, San Juan is where I found the best soil and water conditions, as well as the greatest possibilities for future development,” he added.