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She indicated that the company's first cargo will be shipped from the port of Ventspils to Scandiavia at the beginning of this week.

Until now, R Grupa has been exporting timber from port terminals in Riga and Salacgriva, but the new agreement with VTO will provide more extensive opportunities for timber purchases from local suppliers in the western Latvian province of Kurzeme, the R Grupa representative said.

Dzene underlined that one of VTO's advantages is the ability to handle the largest vessels coming into the Baltic Sea, which means an opportunity for the company to export larger cargo. At the beginning, R Grupa plans to ship five to six cargos per month, gradually increasing the volume. 

In 2018, R Grupa turned over EUR 24.988 million and generated EUR 387,274 in profit. The company has yet to release its performance results for 2019. R Grupa, registered in 2002, has a share capital of EUR 284,564 and is sole owner is Juris Rusa.