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International Internet Magazine. Baltic States news & analytics Saturday, 04.12.2021, 07:42

Agricultural cooperatives Latraps and VAKS to invest EUR 75 mln in new pea protein plant

BC, Riga , 16.11.2020.Print version
Latvian agricultural cooperatives Latraps and VAKS have attracted a strategic partner and raised funds from international and local financial institutions to set up a new company, ASNS Ingredient, in order to build a new split pea protein plant with EUR 75 million, ASNS Ingredient head Raivis Zabis informed LETA.

Zabis said that construction of the pea protein plan is scheduled to begin in 2021 and that the plant should be ready in the second half of 2022. The first production line of the new plant would be launched in 2022 and the second one in 2024. 


In Zabis' words, the first production line would process an estimated 69,000 tons of peas a year, and the combined capacity of both production lines would be 138,000 tons a year, which will enable the company to turn over EUR 100 mln a year. 


"While working at full capacity, the Jelgava-based plant and office will be employing at least 65 people. This will be a state-of-the-art plant in line with today's requirements, which is why many processes there will be automated," the head of ASNS Ingredient said. 


According to information available at Firmas.lv, ASNS Ingredients has been registered in August 2020 and its share capital is EUR 2,800. Latraps has been registered as its only owner. 


Latraps, established in 2000, buys and sells agricultural raw materials and processes grain and rapeseed.






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