February 1, 2007

 

Largest Latvian grain processing company launches project in Ukraine

 

 

Dobeles Dzirnavnieks (DDZ), the largest Latvian grain processing company, has announced investments of US$16.5 million in a project in Ukraine, in cooperation with US-based fund NCH.

 

DDZ and its partner have set up a holding named Zolotoj Rossvet, which includes the companies Ukrlatagro, Latagroinvest, Agrotop and Agrolatinvest.

 

The four companies plan to cultivate wheat, barley, corn, sunflower and sugar beetroot in 50,000-60,000 hectares of land by the end of this year with the aim of exporting to Latvia and other EU countries.

 

DDZ chairman Vitauts Paskausks said the Ukrainian market currently offers a huge potential to Europe.