The company, which uses the funds of an undisclosed Scandinavian investment fund, plans to launch the construction of a hay pellet plant in the free economic zone of Kaunas in fall.
Manufacturing is expected to be launched next year.
With the second expansion stage completed in 2014, the annual capacity of the plant will grow to 480,000 tons.
“Our manufacturing capacity would suffice for one-third of hay that could be bought up in Lithuania. Of course, if something unexpected happens on the market, we could also produce pellet from wood fast. However, the potential of biomass is huge,” Laimonas Lukocius, CEO of Enwipellets, told the daily.
The company intends to export its output to Poland first and is also studying other markets.