Investments, Latvia, Markets and Companies, Woodwork
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Thursday, 25.04.2024, 01:52
Latvia’s forest manager plans to invest EUR 21.5 mln in infrastructure
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He said that the most of investments will go into construction of roads and
land reclamation systems. „Land reclamation systems will be improved in an area
of 18,200 hectares, and 241 kilometers of forest roads will be built,” he said.
Road infrastructure has to be improved in order to improve efficiency of
transportation of timber, forest management and it is also crucial in case
forest fires have to be extinguished.
LVM posted EUR 256.87
million in turnover last year, down 1.8% from 2015, while the company’s profit
dropped 14.6% to EUR 50.614 million, according to Firmas.lv business database.
LVM is responsible
for managing the state-owned forests in Latvia. Its functions include the
auctioning of logging licenses, restoring forests and letting hunting areas
among other tasks. LVM is a fully
state-owned company, and the Agriculture Ministry acts as the shareholder.
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