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Business news, 03.06.2003 13:35

"Riga Dairy" invests USD 500,000 in Novgorod plant

The "Riga Dairy" has spent USD 500,000 on renovating the Demyansk Dairy in Novgorod. According to the Novgorod Region's administration, the opening ceremony of the newly restored dairy will take place on June 6. The investment project was supported by the Novgorod regional administration and the Demyansk district administration.

The "Riga Dairy" plans to purchase extensive supplies of milk in the Demyansk district. The main concern for the Latvian company is the quality of milk produced in Demyansk. The milk should have a minimum basic fat level, low acidity and a high protein content. The dairy's laboratory has begun working in the district to ensure these requirements are met. The Latvian company intends to support local farms in improving their livestock and to help them buy refrigerating equipment. The company is prepared to make USD 500,000 in loans available to its partners for these purposes.

News source: www.rosbaltnews.com

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