West Bank allocates 40 million euros for the creation of a pea protein factory / day

Funding is intended for the construction of factory buildings and the purchase of necessary technological equipment to promote the production of this highly exportable product. The total investment in the project will reach EUR 114 million.

The new plant will be one of the most modern in Europe, specializing in the production of pea protein isolates. It is a valuable vegetable protein – a meat and milk substitute, or the source of alternative proteins, which is growing rapidly on global demand.

On Friday, a solemn event was held in Jelgava, dedicated to the construction of the plant. It was attended by representatives of the Ministry of Agriculture and Economics, ALTUM, Rural Support Service, Latvian Investment and Development Agency and Jelgava Municipality, as well as businessmen and project partners from Latvia and Germany.

« This is one of the largest food production projects in Latvia, which makes a significant contribution to sustainable and innovation -based economic formation. A new factory will be an important modern food market participant in the whole Baltics and Europe. We are pleased that we can support the ambitions of local companies to create new, global product production. This project proves that environmentally friendly says Elena Buraya, Chairman of the Board of Rietumu Bank.

« In order to successfully introduce innovation and be competitive in the rapidly changing market, it was important for us to start the project implementation as soon as possible. In addition, starting a production process requires large investments. Member of the Board of Ingredients Edgars Ruža.

The factory project is implemented with the state support provided by Altum in the amount of EUR 53 million.

As noted by Reinis Berzins, Chairman of the Board of Altum: “As we continue to support Latvian companies, we have provided funding for the innovative project of SIA » Asns Ingredunddient « . Latvia’s export potential will also increase. ”

Currently, the factory on the construction site in Jelgava is already active and the foundations of the buildings are being concreted. It is planned to start building buildings in the coming weeks and to complete the finished product warehouse in May. The other buildings will be ready by the end of the summer, when it is planned to start assembly of technological equipment, which will continue until the fall of 2026.

Pea protein plant will become an important member of the Latvian food export industry, both in the European market and at the same time stimulating demand for local agricultural products and promoting the formation of a new ecosystem in Latvia. The company will create many new jobs and create demand for a number of serving sectors.

The factory -designed building area is 26,300 square meters and the total area of ​​buildings will be more than 23 thousand square meters. The technological equipment for the plant is specifically designed in cooperation with the German engineering company « Endeco ». The equipment is delivered from Europe and the US.