Jaunpagasts to build €65 million bioethanol plant
In Latvia, plans are underway to construct a bioethanol production plant.
Bioethanol producer Jaunpagasts Plus has chosen to build the €65 million plant in the Riga Port because of the economic and practical reasons it provides. The plant will be powered by woodchips and this is a convenient location to receive woodchip deliveries as well as exporting the bioethanol.
The facility will process at least 300,000 tonnes of grain every year but it has not yet been decided whether the biofuel will be exported or sold to the local market. The plant will also benefit local farmers, as they will be able to grow grain for the facility.
According to Dans Titavs, the Latvian Exporters and Investor’s Club board member, a number of foreign banks have shown interest in supplying funds for the project. Currently, the company is working on documents for receiving a state guarantee for a loan.
Bioethanol producer Jaunpagasts Plus has chosen to build the €65 million plant in the Riga Port because of the economic and practical reasons it provides. The plant will be powered by woodchips and this is a convenient location to receive woodchip deliveries as well as exporting the bioethanol.
The facility will process at least 300,000 tonnes of grain every year but it has not yet been decided whether the biofuel will be exported or sold to the local market. The plant will also benefit local farmers, as they will be able to grow grain for the facility.
According to Dans Titavs, the Latvian Exporters and Investor’s Club board member, a number of foreign banks have shown interest in supplying funds for the project. Currently, the company is working on documents for receiving a state guarantee for a loan.
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