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Dobeles Dzirnavnieks will invest EUR 2.178 million in the grain storage towers and EUR 546,200 in the equipment for those towers (both prices are VAT-inclusive).

The grain storage towers will be supplied by VOKA company selected as the winner from among five bidders, and the equipment will be supplied by the Danish company Crocus v/Ejvind Moller, which was one of the four bidders for the contract.

The grain storage towers are to be installed by July 31 and the equipment by August 31, 2018. The project will be co-financed by the Latvian Rural Development Program 2014-2020.

As reported, Dobeles Dzirnavnieks plans to invest more than EUR 7 million in boosting its grain storage capacity this year. The project provides for construction of 15 new grain storage towers, increasing storage capacity by 64,000 tons to 230,000 tons.

In 2016, Dobeles Dzirnavnieks reported EUR 89.711 million in turnover, down 8.9 percent from 2015, but its profit increased 2.4 times to EUR 2.713 million.

Dobeles Dzirnavnieks, founded in 1991, has a share capital of EUR 3.78 million. Since 2008 the company's largest shareholder is Estonian company Tartu Mill.

The main business operations of Dobeles Dzirnavnieks include storage and processing of grain and grain products, production of all types of flour and flour mixtures, production of semolina, pearl barley, food grade bran, processing of buckwheat, packing of food products, wholesale, retail sales and supply of fodder in the whole territory of Latvia.