Luminor supports the reconstruction of Romaņi 1 farm with 924 thousand euros

  • 2023-06-16

Luminor Bank has granted more than 900 thousand euros to Romaņi 1 farm for the reconstruction of the farm and the purchase of the necessary equipment. The farm in Valle parish, Bauska municipality, is active in livestock and crop farming. 

The bank's funding is used to implement a project to reconstruct the existing dairy cowshed, install an automatic milking robot, purchase new machinery, and other equipment needed to maintain the farm. The farm has also purchased a tillage unit and a telescopic loader.

"Our farm is organic; the livestock and the farmland are certified according to organic farming methods. Thanks to the bank's loan and the support of the Rural Support Service, which Leveria SIA helped to raise, we can buy more modern equipment for the cowsheds: for example, to change the milking method from a milking pipeline to a robot, which will increase milk yields and improve the health of the herd. The purchased machinery and equipment will facilitate the daily work of the farm staff and make our activities more competitive," says Zita Kalniņa, owner of the Romaņi 1 farm. 

The reconstruction of the farm's cowshed includes renovation of the existing cattle shed with an automatic milking machine, the construction of a new manure storage and ancillary building, the installation of a feed tower and a new artesian borehole.

"Agriculture being an important sector of Latvia's economy, Luminor Bank is keen to support entrepreneurs in the regions who have clear and well-founded goals for the future development of their farms, as well as the future benefits. Since farms cannot always afford to invest more financial resources in newer machinery and more modern equipment, the bank provides financial support to accelerate development," says Ilze Zoltnere, Head of Corporate Banking at Luminor in Latvia.

About Romaņi 1 farm

Romaņi 1 was established in 2002. It manages 428 hectares. The farm has 106 cattle, 56 of which are dairy cows. Romaņi 1 has a mobile grain drying plant RIELA, a grain mill, and grain storage towers with a capacity of 350 tonnes. The farm has 8 employees.

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.