It is planned to invest 10 million euros in the development of Agrolats Group business partner AS “Agrofirma Tērvete” this year, says the company’s Chairman of the Board, Dainis Dominieks.
He also indicated that the investments in projects currently at the stage of designing, the implementation of which is scheduled for 2024–2025, will account for 5.5 million euros.
Mr Dominieks commented that this year the company has planned to install a biomethane and liquefied biomethane (LNG) production plant with a capacity of 800 cubic metres per hour for biogas purification, a solar power plant with the capacity of three megawatts per hour, as well as develop the company’s own internal electricity distribution grid for self-consumption.
It is also planned to optimise the grain crop growing areas according to the range of products produced by the company.
Dominieks indicated that a digestate processing line with a capacity of 140 000 tonnes per year and a CO2 food-grade gas production line with a capacity of 7000 tonnes per year will also be designed this year.
The Chairman of the Board of “Agrofirma Tērvete” also mentioned that fluctuations of milk prices considerably affect the current assets of the company, as well as the possibilities to obtain and undertake new liabilities with an aim to continue development of the company’s dairy farming sector and other sectors, for example, for the robotisation of milking devices.
“Agrofirma Tērvete” produces approximately 1600 tonnes of raw milk per month, of which 95% is sold in Lithuania. The company’s herd consists of 2200 milking cows.
We have already reported that “Agrofirma Tērvete” had a turnover of 10.032 million euros in 2021, which is 12.9% less than the year before, while the company’s profit decreased 6.6 times – to one million euros.
The company was incorporated in 1992 and its share capital is 1.592 million euros, according to information at “Firmas.lv”. The beneficial owners of “Agrofirma Tērvete” are Andris Paškausks, Jānis Paškausks and Vitauts Paškausks.
Source: The “Dienas Bizness”