Agriculture, Good for Business, Investments, Latvia, Ukraine
International Internet Magazine. Baltic States news & analytics
Thursday, 28.03.2024, 11:28
Ukrainian and Latvian investors order EUR 26 mln worth of equipment for planned egg farm
“We have ordered the newest equipment that meets the highest
European environmental safety and bird welfare standards. Latvia will have one
of the most up-to-date egg farms in Europe. Global demand for cage-free eggs
will keep growing, ensuring wide export opportunities for the Latvian-made
products,” Veinbergs said, adding that the company plans to export up to 90% of
its products.
Ovostar Union has
confirmed the plan to develop a new egg farm in Latvia by investing at least
EUR 85 mln in the business by 2026 and creating up to 200 new jobs.
Construction of the farm is scheduled to being in the second half of 2019,
although it is still nor clear where the facility will be built.
Ovostar Union is a
group of companies whose main holding company Ovostar Union N.V. is quoted on the Warsaw Stock Exchange since
2011. At present Ovostar Union is represented by two companies in Latvia – Gallusman, which is developing the new
egg farm project in Latvia, and Ovostar
Europe, the distributor of Ovostar
Union products in the European Union.
According to latest information, Gallusman currently considers building the farm either in Tukums or
Ogre region.
According to information available at Firmas.lv, The key
owner of Gallusman is the
Dutch-registered Ovostar Union, the
beneficial owners of which are Ukrainian citizens Boris Belikov and Vitaly
Versenko who own 89% in the company. The remaining 11% belong to Balticovo head Arnis Veinbergs.