March 13 (SeeNews) - Romanian agriculture company JD Agro Cocora said on Monday that it has invested 10 million euro ($10.6 million) in the acquisition of a farm in the south-eastern county of Constanta.
The farm covers an area of around 1,370 hectares, JD Agro Cocora said in a press release.
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The acquisition complements the company's existing farmland holdings in Constanta and takes its overall owned farmland to a total of almost 17,000 hectares, the release further showed.
"This decision came as a natural step in the development of the company locally, being in line with the the group's plan to strengthen itself both through acquisitions and the leasing of agricultural land. By 2025, we aim to manage a total area of over 20,000 hectares at the local level," said Hans Poulsen, CEO of JD Agro Cocora.
JP Agro Cocora was established in 2008 and specialises in the cultivation of grain. The company is owned by Danish investors and currently owns farmland in the southern counties of Ialomita, Buzau, and Constanta.
($=0.93787 euro)