Landkom International PLC (AIM: LKI) has doubled its land bank during the first five months of 2008 according to figures released by the company last week (2nd June). The Ukranian-based company is a large scale producer of agricultural feedstock, principally oil seed rape and wheat, for supply to the European biodiesel and food industries.

Since its last announcement, at the beginning of March 2008, Landkom has added a further 33,400 hectares, giving it a total land bank of 100,400 hectares. This, says the company, is well ahead of its target of 115,000 hectares by the end of 2008. All the land acquired is in Ukraine and has been selected in areas which provide good rainfall and soil parameters for the production of oil seed rape and wheat.

Comenting on the latest announcement Richard Spinks, Landkom Chief Executive, said: “This is a tremendous achievement by our land acquisition team. The land acquisition programme has accelerated quickly due to the greater experience of the team and the improved efficiencies this creates. Last year we said we intended to add a further 65,000 hectares in 2008, over and above the 50,000 hectares acquired in 2007, giving us a total land bank of 115,000 hectares by the end of this year. We have now more than doubled our total land bank during the first five months of 2008 and are well ahead of our original land bank targets for the year.”