Dabar populiaru
Published: 20 february 2012 18:10

Enwipellets to invest EUR 38 mln in Kaunas

Kaunas žiemą
Aliaus Koroliovo nuotr. / Kaunas žiemą

Enwipellets is set to invest 131 million litas (EUR 37.97 mln) in the production of hay pellets in Lithuania, the Verslo Žinios business daily reports on Monday.

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.

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