Swedbank has granted more than EUR 11 million in loans to poultry farmers and producers - leading Latvian poultry producer AS Putnu Fabrika Kekava has been assigned EUR 9.48 million, whereas the associated company SIA Lielzeltini - EUR 1.91 million euros. The loan will be used to carry out renovations of bird enclosures and infrastructure, modernize the meat processing plant and purchase the new equipment, Linas Agro Group reports.
© DELFI / Kiril Čachovskij

Putnu fabrika Kekava and Lielzeltini are the only poultry processing companies in Latvia that produce poultry solely from chickens grown in their own factories. Priorities for investments are modernization of production, optimization of business processes and development of new products in order to boost the competitive capacity of the companies on both local and export markets. The investment program will be implemented during the next 3 years.

"We are pleased to do business with such a significant Latvian food industry player and to support the company in its development, which will benefit both the company itself and the national economy," says Reinis Rubenis, Swedbank Board member and head of Corporate Customer Division.

Lithuanian AB Linas Agro Group is an agribusiness parent company engaged in the production and trade of grains, oilseeds, feedstuff, poultry and poultry products, also agricultural inputs. It controls companies in Lithuania, Latvia, Estonia and Denmark. The group consists of international agricultural production trading company in Lithuania AB Linas Agro, grain storage company UAB Linas Agro Grudu Centras KUB (that manage 8 operating and two being built grain elevators), trading companies in Latvia and Denmark, group of agricultural land management companies ZUB Landvesta, holding of agricultural companies UAB Linas Agro Konsultacijos, agricultural inputs supplier UAB Dotnuvos Projektai, logistic company UAB Jungtine Ekspedicija, Latvian poultry companies AS Putnu Fabrika Kekava and SIA Lielzeltini, also other companies.

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