It is planned to invest 10 million euros in the development of AS “Agrofirma “Tērvete”” this year, said Dainis Dominieks, the chairman of the board of the company.
At the same time, he pointed out that the projects, which are currently in the design stage and whose realization is planned in 2024-2025, will amount to 5.5 million euros.
Dominiek said that this year the company plans to install a biomethane and liquefied biomethane (LNG) production facility with a capacity of 800 cubic meters per hour for biogas purification, a solar park with a capacity of three megawatts per hour, as well as to create an internal electricity distribution network of the company for self-consumption.
It is also planned to optimize the sowing area according to the range of products produced by the company.
Dominieks pointed out that a digestate processing line with a capacity of 140,000 tons per year and a CO2 food grade gas production line with a capacity of 7,000 tons per year will also be designed this year.
The chairman of the board of “Agrofirmas “Tērvete”” also noted that milk price fluctuations significantly affect the company’s current assets, as well as the possibility of receiving and taking on new credit obligations for the further development of the company’s dairy farming and other sectors, for example, the robotization of milking equipment.
“Agrofirma “Tērvete”” produces about 1,600 tons of raw milk per month, 95% of which is sold in Lithuania. The company has 2,200 dairy cows in its herd.
It has already been reported that “Agrofirma “Tērvete”” worked with a turnover of 10.032 million euros in 2021, which is 12.9% less than the year before, while the company’s profit decreased 6.6 times – to one million euros.
The company was registered in 1992, and its share capital is 1.592 million euros, according to “Firmas.lv” information. The true beneficiaries of “Agrofirma Tērvete” are Andris Paškausks, Jānis Paškausks and Vitauts Paškausks.
