Agriculture, Estonia, Investments, Markets and Companies

After getting 15 mln euros' worth of support from the agricultural registers and information authority PRIA and finding an investor from the Netherlands, building the new plant of dairy cooperative E-Piim is becoming more and more certain. It is hoped that construction would start at the beginning of next year.

Estonia needs a modern and efficient dairy processing plant which could add value to the 600 tons of milk being exported to Latvia and Lithuania at the moment, the newspaper said.

Two thirds of the 100 mln euros is to be covered with bank loans. The processing capacity of the plant would be 1,000 tons of milk a day and 50,000 tons a year, and the plant's output would be cheese and powders.

Revenue of E-Piim grew 24.7% last year to 56.3 mln euros and profit increased from 58,000 euros to 1.3 mln euros. The dairy cooperative exported 72% of its produce in 2017.