Luminor Bank has granted Kalves Farm 203 thousand Euro for acquiring state-of-the-art equipment which will contribute to and accelerate cultivation of aquaculture products, for instance, carps.

Luminor Bank has granted Kalves Farm funding to the amount of 203,350 Euro to increase the number of machinery fleet for aquaculture needs. Moreover, the farm plans to use the bank's support to acquire a recultivation cutter and specialized tractor equipment to work in fields and in forests.

"Popularity of aquaculture and areas where fish are reared have grown in recent years. To contribute to further development of aquaculture in Latvia, we are pleased to support the farms like Kalves, which has operated for 20 years in the market, and start-ups of the industry. We are ready to support companies with the loans for development and expansion and with the leases for new machinery,"

- said Ilze Zoltnere, Head of Corporate Department at Luminor in Latvia.

Currently, Kalves Farm owns around 80 ha of the water area. Carps, grass carps, tenches, zanders, northern pikes and crucian carps are reared in the ponds with the area of about 40 ha. The ponds are located in the following parishes: Kūkas, Varieši (Krustpils Municipality) and Sāviena (Madona Municipality). Aquaculture is about 5–7 % of the farm's overall annual turnover. In addition to aquaculture, the farm is also engaged in agriculture (they cultivate 1,000 ha of land), forestry, wood processing, land reclamation services and rural tourism.

"We rear the fish and provide the full-cycle production, starting from collecting and incubation of larvas and resulting in ready smoked fish products that are offered to customers. With the support by Luminor, we will be able to develop our machinery reserve and volumes of products that will be sold in Vidusdaugava and Latgale. As the regional training centre, we will be able to share our experience and skills with other representatives of the industry and thus to promote development of aquaculture in Latvia,"

- said Gundars Kalve, owner of Kalves Farm.   

About Kalves Farm:
Kalves Farm is situated in Kūkas Parish of Krustpils Municipality. The farm started operating in 1991. It is engaged in agriculture, forestry, aquaculture, and wood processing. Kalves also offers rural tourism and land reclamation services.

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