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Published: 26 july 2012 18:05

Eastern Europe's first cocoa factory to be built in Lithuania

Kakava
„Reuters“/„Scanpix“ nuotr. / cocoa

Premium Cocoa, a Lithuanian-registered company, is planning to build a cocoa factory in Alytus, in the southern part of the country. It will be the first such facility in the Baltic countries and Eastern Europe.

Premium Cocoa Director Justinas Bernatonis expects that the company will generate 83 million litas (EUR 24m) in revenues in 2016, of which around 90 percent will come from exports, the Lithuanian Business Support Agency said in a press release on Thursday.

The company expects to export its products to Russia, Ukraine, Belarus, Poland, Latvia, Estonia, and other European countries.

The project has been allocated 4 million litas from the European Regional Development Fund.

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