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Broceni Pellets has already acquired 16 hectares of land in Latvia's Broceni Region.

The company has also received permission from the local government to build the factory.

At the same time, long-term raw material supply contracts have been entered with the region's major companies to guarantee the factory with a steady flow of raw materials.

The new factory will begin to operate at the beginning of 2016. The estimated production capacity is around 150,000 tons of pellets per year.

This will be the eighth Graanul Invest pellet factory in Broceni.

Broceni Pellets was founded in August 2014. Its share capital is EUR 2,800, according to information provided by "Firmas.lv".

Graanul Pellets, who also owns Graanul Pellets Energy in Latvia, is the sole owner of Broceni Pellets.