Luminor grants 384,000 euros to road construction company SIA Strauteks

The company has been providing a wide range of services for ten years and is mainly engaged in road construction and repair, as well as construction of hydraulic structures, water supply or sewerage systems, landscaping, paving, and other construction projects. SIA Strauteks also builds residential and non-residential buildings.

"One of the bank's priorities is to promote environmentally friendly and socially responsible business regardless of the size of the company. Given Strauteks' core business, we appreciate the company's efforts to follow recommendations and use best practices to minimise its environmental impact. We hope that the funding will help the company to develop efficiently, as it will now be able to carry out its activities under one roof," Ilze Zoltnere, Head of Corporate Banking at Luminor in Latvia.

SIA Strauteks has established long-term cooperation with other large companies, as well as with the surrounding municipalities and their capital companies. Strauteks is a well-established player in the market and has a proven track record in the implementation of projects in Sigulda and other regions, including the construction of municipal public spaces such as parks, squares, pavements, and roads.

"The financing provided by the bank will help us work more efficiently in the long term, as all of the company's operations will be based in one place, making the business even more profitable. We plan to maintain our machinery in-house in a well-equipped repair shop, reducing outsourcing costs. There will also be the possibility to provide additional services in metalworking, hydraulic hose manufacturing, and spare parts sales. And our large site will allow us to store our existing machinery at our premises rather than on rented property. We have successfully proven ourselves on both large and small sites during the company's history and will continue to offer professional services in the future," says Juris Strautāns, CEO of SIA Strauteks.

About SIA Strauteks

SIA Strauteks was founded in 2013 and employs around 40 people. The company provides hydraulic engineering works, a wide range of road construction, reconstruction, and maintenance works, landscaping, paving, a wide range of building works and the construction of water supply and wastewater systems.

About Luminor

Luminor is the leading independent bank in the Baltics and the third-largest provider of financial services in our region. We serve the financial needs of individuals, families, and companies. Like our home markets of Estonia, Latvia, and Lithuania we are young, dynamic, and forward looking.