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Denmark‘s Saerimner set to claim 29 million euros from Lithuania for lost investments

S.Leonavičius teigia, jog „Saerimner“ plėsis į Rusiją, nes Lietuvoje negali statyti naujų fermų.
Juliaus Kalinsko / 15min nuotr. / Saulius Leonavičius, Saerimner CEO
Šaltinis: 15min
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Danish-owned pig breeding company Saerimner, which has invested around 200 million litas (EUR 57.97m) in Lithuania since 2006, intends to claim 100 million litas from Lithuania for lost investments unless it manages to obtain a renewed integrated pollution prevention and control (IPPC) permit through courts.

Meanwhile, the government started discussing possible measures that could be taken in order to safeguard the state against any financial losses.

Acting Economy Minister Rimantas Zylius said that the government will seek solutions favorable both to Saerimner and local residents, but added that concrete solutions will depend on the Supreme Court's ruling.

"As far as I know, Saerimner has not filed a suit (against Lithuania). It is waiting for the outcome of its cassation appeal with the Supreme Court. The government has taken a decision aimed at looking at how this situation could be avoided in case there is such a suit," he told reporters.

The Economy Ministry has proposed to analyze the concentration of odors emitted from one of the pig farms of the company.

Next Monday, the Supreme Court will hear a cassation appeal lodged by Saerimner against the decision taken by Kaunas Regional Court. If the court determines conclusively to revoke the IPPC permit and the environmental department of Marijampolė Region does not reopen the authorization procedure, the activities of Saerimner would be deemed illegitimate, the ministry has said in a letter to the government.

If the decision by the court is unfavorable for Saerimner, the company may be forced to suspend its activities and investments, in which case it will open an investment dispute, worth around 100 million litas, against Lithuania, the document says.

“This process is related with investors’ legitimate expectations and legal stability of the state, which is necessary when a public authority is issuing authorization which is used as a basis for investment, and then the authorization is revoked based on the interests of several private individuals,” Saulius Leonavičius, Saerimner CEO, told BNS.

Saerimner claims that it continues to face obstacles for renewing its IPPC permit and sees continued attempts to annul its existing permit.

The company has already warned that it may demand compensation for losses from Lithuania if its five-year row with the local government of the southwestern town of Kalvarija ends up in the revocation of its IPPC permit.

The dispute with the local community centers around the odors emitted from the pig farms. Saerimner owns 11 out of 43 pig complexes in Lithuania.

The Danish company is 20-percent owned by the World Bank’s International Finance Corporation (IFC).

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