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Balticovo plans to invest EUR 5 mln on construction of new egg processing plant, renovation

Latvia’s largest egg and egg product producer Balticovo plans to invest EUR 5 million in construction of a new egg processing plans and renovation of the existing plant, according to information published on the internet website of the Procurement Supervision Bureau writes LETA.

The company has announced tenders on construction of the new plant and renovation of the existing egg processing plant. Bidder may apply until May 27. The project has been submitted to the Central Finances and Contracting Agency and Balticovo has applied for European funds and plans to implement the project until March 31, 2021.

Balticovo communication and development director Toms Auskaps said that the company is planning to build a new plant with a floor space of 4,000 square meters, and one of the existing plants will be renovated because of growing demand for boiled and peeled eggs.

He said that Balticovo is supplying boiled eggs to the largest food processing companies in Central Europe and Scandinavian countries, and there is a growing demand in the HoReCa sector.

As reported, Balticovo egg and egg products producer in 2017 posted EUR 52.3 mln in turnover, up 17.3% from 2016, while the company’s profit reached EUR 10.8 mln which is four time bigger than in 2016.

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

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