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International Internet Magazine. Baltic States news & analytics Monday, 21.09.2020, 14:48

Estonian dairy associations set up joint venture to build new dairy plant

BC, Tallinn, 28.01.2017.Print version
Four Estonian agricultural cooperatives and the consultancy CPTT Consult established on Wednesday a joint venture named Milkest with the aim of building a new efficient dairy plant in Estonia at an estimated cost of 50 mln euros, writes LETA/BNS.

Engaged in implementing the project are also the dairy company Saaremaa Piimatoostus based on Estonia's largest island of Saaremaa, international consultants and financial investors, the businesses said.

It is planned to put up the plant in central Estonia and production is expected to begin in the first half of 2020. The plant is to be equipped with state-of-the-art technology capable of processing up to 600 tons of raw milk per day. In the longer perspective, the capacity is to be raised to 1,000 tons. The dairy will start producing cheese, butter and different powdered products intended entirely for export.

The company established for building the plant is going to seek investment support through the Agricultural Registers and Information Board (PRIA) for the first phase of the project. Financing will also be sought from banks and investors after the decision on PRIA's first round of applications is known.

The new dairy company is open to and interested in partnership with other dairy producers so as to start planning phase two of the plant soon.

Members of the supervisory board of Milkest are Tonu Post, Lembit Paal, Mart Riisenberg, Sulev Kuus and Rein Nigul.

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