Agricultural cooperatives found joint venture to build dairy factory
Four Estonian agricultural cooperatives together with consultancy CPTT Consult established a joint venture on Wednesday called Milkest. The company wants to build a new and efficient dairy factory in Estonia at an estimated cost of €50 million.
Dairy company Saaremaa Piimatööstus as well as international consultants and investors were also involved in the product, the founders said.
The factory is to be built in Central Estonia, and production is expected to begin in the first half of 2020. It will be equipped with state-of-the-art technology capable of processing up to 600 tons of raw milk a day. In the longer perspective, the company is planning to increase the factory’s capacity to 1,000 tons a day. Among its products will be cheese, butter, and different powdered products intended entirely for export.
The new company will look for investment support by the Agricultural Registers and Information Board (PRIA) for the first phase of the project. Financing will also be sought from banks and investors as soon as PRIA’s decision on a first round of applications is known.
Editor: Editor: Dario Cavegn
Source: BNS
