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International Internet Magazine. Baltic States news & analytics Wednesday, 01.04.2020, 13:27

Balticovo plans EUR 3.3 mln investment in expanding production of cage-free eggs

BC, Riga, 16.03.2018.Print version
Latvian egg and egg product maker Balticovo plans to spend around EUR 3.3 million on expanding production of cage-free eggs, LETA was told at the company.

Information available on the website of the Procurement Monitoring Bureau shows that Balticovo plans to buy open-house egg production equipment for EUR 1.3 million and open-house chicken farming equipment for EUR 1 million, as well as open-house battery coops for egg-laying hens for EUR 1 million.

Balticovo spokeswoman Agra Liege told LETA that already in 2016, the company made a strategic decision to build new poultry farms in order to expand the production of cage-free eggs. The plans include investments in the Balticovo poultry farms in Ieceva and Madona. The EUR 3.3 million investments are part of the investment plan aimed at attaining this goal.

To purchase the necessary equipment, Balticovo plans to raise financing from the European Agricultural Fund for Rural Development (EAFRD).

Balticovo produces not only eggs but also different egg products.

In 2016, Balticovo generated EUR 44.589 million in turnover, down 2.9% from 2015, and its profit shrank two times to EUR 2.713 million.

The largest shareholder in Balticovo is BCO company with 95.42%.

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