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Danish FirstFarms owns 5,500 ha of land in Romania

11.04.2008, 20:36 39

FirstFarms, a Danish-held agricultural company, has purchased around 5,500 hectares of farmland in Romania over the course of one year, for which it paid a little over 10 million euros. The Danish acquired their first 376-hectare plot, in April 2007, and continued to purchase land, and reached 4,576 hectares at the end of last year, with plots located near Timisoara and Bucharest, according to the company's annual report. "In both regions, the soil of the purchased plots is of a high-quality, while the plots are situated in areas with a good infrastructure. Additionally, we considered it was important to choose areas with the best climate conditions," reads the report. FirstFarms has continued to buy land this year, after it purchased another 929-hectare area in Sibiu, which brings the total surface area held by the group in Romania to 5,505 hectares. "FirstFarm estimates it will continue to acquire land in Romania in 2008, and also invest in equipment," shows the report. Company data reveals that plots in Romania were the cheapest. The group specifies it paid an average 13,661 Kroner per hectare (6,830 RON) in Romania, while the average price for land in Slovakia stood at 17,941 Kroner (8,970 RON). Compared with land in Denmark, Romanian land is almost 10 times cheaper.

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