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Romania's Holde Agri Invest buys 440 ha farm in Teleorman county

Romania's Holde Agri Invest buys 440 ha farm in Teleorman county Source: Holde Agri Invest

BUCHAREST (Romania), January 11 (SeeNews) - Romanian agribusiness company Holde Agri Invest [BSE:HAI] said on Tuesday that it has bought a farm in Teleorman county for 1.4 million lei ($314,640/ 278,000 euro).

The acquisition of the 440-hectare farm in southern Romania will increase the total surface that the company operates to approximately 12,040 hectares, Holde Agri Invest said in a press release.

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For agricultural year 2021-2022, the company plans to grow several crops in the new farm, such as wheat (86 ha), corn (118 ha) and sunflower (236 ha).

"For 2022, through the extension of the operated land area we plan to reach four Holde core farms and continue additional investments in equipment and silos and irrigation systems," Holde Agri Invest CEO Liviu Zagan said.

Holde Agri Invest operates approximately 10,000 hectares of agricultural land organised into three core farms - Rosiori, Frumusani and Videle. The company also owns a 10,000-tonne silo and plans to expand its storage capacity to 30,000 tonnes by 2023.

Holde's shares traded 5.56% higher at 2.09 lei as at 1005 CET on Tuesday on the AeRO market, the Bucharest Stock Exchange's alternative trading system designed for listing of early-stage companies, start-ups and small and medium-sized enterprises.

(1 euro = 4.9439 lei)