Gallusman, one of Ovostar Union companies, plans to begin the construction of an egg production complex in Latvia in partnership with the energy company ADVEN in 2021, the project is currently at the stage of assessing potential environmental impacts. According to Ovostar, it is expected that the new production complex will export up to 90% of its products. Another Latvian subsidiary of Ovostar, Ovostar Europe, which since 2015 has been cooperating with the group’s trading partners in the EU countries, will be engaged in export sales. The goal of Ovostar is to enter new markets in Europe and the Middle East.
“Today, the project is at the stage of assessing the potential impact of the new production on the environment. The examination should be completed before the end of this year, and the start of construction work is scheduled for 2021,” the company noted.
It is projected to bring about EUR 100 million investment and 200 new jobs to the Latvian economy.
Ovostar reported that Gallusman and ADVEN had already signed a letter of intent. The partnership of the companies is aimed at finding the best energy and infrastructure solutions for the egg production complex to achieve non-waste production.
“Upon completion of the project, Gallusman will become a leader in the poultry industry and animal feed trade in Latvia, as well as the largest producer of eggs and egg products in Northern Europe,” Ovostar said.
Gallusman is part of the Ovostar Union group. Ovostar Union, one of the leading Ukrainian agricultural holdings, is one of the largest egg producers in Europe. The business model of the company is built on the principle of a full production cycle.
BUILD, EGG, LATVIA, OVOSTAR, PRODUCTION
