In order to increase the supply of washed and peeled vegetable products to local and export customers, the Iecava region farm “Upmaļi” will create a new vegetable processing workshop and warehouse. Swedbank half a million euros will be invested in the implementation of the plan.
Z / S “Upmaļi” was founded in 1992 and as a family company has developed in the segment of growing and selling fresh vegetables. Starting its economic activity with a couple of greenhouses, the farm has grown into a modern company, where the range of products has been expanded and the volume of production has been increased. The farm grows fresh vegetables – potatoes, carrots, onions and dill – on an area of 100 hectares.
“Upmaļi farm proves that there is great business potential in Latvian countryside. For many years, this farm has managed and developed only relying on its own earnings. Now, despite the uncertainty created by Covid-19, Upmaļi is ready to take the next step and not only use co-financing of various funds, but also to attract bank capital in order to invest faster in development, “emphasizes Lauris Mencis, Swedbank Head of Enterprise Management in Latvia.
Vadim Dernovoy, the head of the farm, says that one of the goals has always been to be able to grow local food for the local market. In addition, with the growing demand for an assortment of directly washed and already peeled vegetables, the farm’s decision to invest in further development will also have a positive effect on the local labor market.
In collaboration with Swedbank the obtained financing was used for the installation of a new vegetable warehouse and processing workshop. The investment will allow the development of a vegetable pre-processing process, which will significantly increase the volume and quality of production. The next goal of the investment projects is to build a new farm block and purchase a more modern vegetable packing line, as well as to renovate bunkers for vegetable storage.
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