November 25, 2021
Don Agro achieves 8.9 thousand tonnes growth in crops harvested
Don Agro International Limited and its subsidiaries, one of the largest agricultural companies based in the Rostov region of Russia, announced on November 23 that it has achieved a 8.9 thousand tonne growth in total crops harvested, with 72.3 thousand tonnes of winter wheat and 19.0 thousand tonnes of sunflower harvested till date.
A key driving force which has enabled Don Agro to sustain this growth has been the expansion of the group's totalled controlled land bank via new strategic acquisitions.
Following its initial public offering in February 2020, the group made its maiden post-listing acquisition at the end of 2020 of Volgo-Agro LLC, an agricultural company based in the Volgograd region of Russia operating a controlled land bank of approximately 10,040 hectares.
Subsequently in July 2021, the group acquired a neighbouring agribusiness, Rav Agro Rost LLC, located in the Millerovo District, Rostov Region of Russia. With an arable land bank of approximately 3,200 hectares, Rav Agro Rost alone contributed up to 3.1 thousand tonnes of winter wheat and 1.54 thousand tonnes of sunflower.
"While we are pleased with the robust harvest results achieved this year, we continue to look ahead to new horizons to capture growth. For us, the acquisition of new land banks is a strategic task, and is one that we have committed to our investors since listing in early 2020," said Marat Devlet-Kildeyev, chief executive officer of Don Agro International.
"At the moment, we operate a controlled land bank of approximately 67.3 thousand hectares, of which 17.2 thousand hectares are owned by the company, and we do not plan to stop there. Moving forward, we will continue to explore new acquisition prospects actively to raise our production capacity progressively, with the objective of achieving long-term sustainable growth."
- Financial PR