Construction, Foodstuff, Good for Business, Industry, Latvia, Markets and Companies, Retail

International Internet Magazine. Baltic States news & analytics Thursday, 04.06.2020, 13:47

Skai Baltija invests more than EUR 4 mln in meatpacking plant

BC, Riga, 23.05.2019.Print version
Skai Baltija with financing granted by BlueOrange bank has started construction of a meatpacking plant with the total investments in construction and equipment amounting to EUR 4 mln, the company’s representatives reported.

The bank has granted more than 70% of the total sum. Skai Baltija will make considerable investments in product packaging.

The production and storehouse premises will be located on the first floor of the building and cover a floor space of 3,006 square meters, while the whole building will have a floor space of 3,889 square meters.

Skai Baltija representatives said that the company will prefer local suppliers, motivating and supporting local farmers who can offer organic meat. The new plant will employ 50 people.

BlueOrange executive director Dmitrijs Latisevs said that it is important to support small and medium local producers who create new workplaces and contribute to the country’s economic development in general.

Construction works were started on February 19 and should be completed by the end of the year.

In early 2018, Skai Baltija handed over operation of Sky retail stores to RX Tirdznieciba company.

Skai Baltija, attracting financing from the European Agricultural Fund for Rural Development, plans to implement several investment projects, including construction of a meatpacking plant for EUR 3.518 mln, excluding value added tax (VAT). Bukoteks company won the tender on constructon of the plant in November 2018.

In 2017, Skai Baltija turned over EUR 30.095 million in 2017, down 7.7%  from a year before, while its profit shrank 8.6 times to EUR 41,291.

Skai Baltija, founded in 1998, has a share capital of EUR 438,240, and belongs to two individuals.

Search site