Holde Agri Invest (BVB: HAI), a Romanian company that operates farmland, has completed the construction of a new silo with a capacity of 10,000 tons at its Frumusani farm in Calarasi county.

With this investment worth RON 8 million (EUR 1.6 million), the group has increased its total storage capacity to 25,000 tons.

“Holde is at a dynamic stage in its evolution. Every year, we target the expansion of the operated farmland and the development of existing farms because agriculture in Romania is at a stage where it requires massive modernization investments. The Frumusani investment represents another goal assumed and accomplished by us. At the same time, we are glad that we completed the works in record time so that we can already store part of the harvest of the current agricultural year in the new silo,” said Liviu Zagan, CEO of Holde Agri Invest.

The construction of the new silo took 11 months to complete, and the company refinanced 85% of the related expenses through the syndicated loan contracted in May of this year with Banca Transilvania and OTP Bank Romania.

The group plans to continue developing the storage capacities at this farm.

Since its listing on the AeRO market of the Bucharest Stock Exchange in October 2020, Holde Agri Invest has invested over RON 155 mln in expanding its farmland and modernizing the existing farms by purchasing state-of-the-art machinery, implementing irrigation systems, and expanding storage capacities.

Recently, the company’s Board of Directors approved a new share capital increase of up to RON 40 million to continue implementing the development plans, such as expanding through the acquisition of new farms and implementing the current investment plan. Currently, Holde operates 13,200 hectares of farmland.

andrei@romania-insider.com

(Photo source: the company)