Lithuania's Linas Agro intends to attract Singapore's ETG to join pea-processing project for 100 mln euros - media
VILNIUS. Jan 26 (Interfax) - Lithuania's agro-industrial group Linas Agro Group is discussing with Singapore's ETG conglomerate the possibility of implementing a project for the full-scale processing of peas totaling 100 million euros.
"The Linas Agro Group is negotiating with Singapore's ETG agricultural conglomerate on investing 100 million euros in a factory that produces plant products in the free economic zone in Kedainiai," the Lithuanian business news portal vz.lt reported, citing sources.
There are plans to lease 11,000 hectares for the project. The factory will produce goods with high added value. Processing capacity will be 51,500 tonnes of peas per year.
"Preliminary plans envisage 15 administrative employees, and 45 employees in the production department, working in two shifts," according to the report.
Giedrius Valuckas, co-owner of Kedainiai FEZ management company, said that the agreement to lease the land has not yet been signed. Linas Agro Group has declined to comment.
Linas Agro is the largest group of companies producing agricultural products and food in the Baltic countries, uniting more than 70 companies in various countries worldwide.
Founded in 1967, ETG is a diversified agricultural conglomerate that "owns and operates a vertically integrated supply chain across five continents", according to the company's website