Kormotekh can receive €40 million from the EBRD for the construction of a plant in Lithuania

The European Bank for Reconstruction and Development (EBRD) has announced that it can provide a loan of €40 million to the Ukrainian group "Kormortech" (Kormortech Group) for the construction of a second plant for the production of pet food in Lithuania, writes inventure.com.ua.

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The holding company of the group Vengast Investments Ltd (Cyprus) and its subsidiary Kormotech UAB (Lithuania) will be the direct recipient of the loan.

Due to the implementation of the project, "Kormotekh" plans to expand export operations and geographical diversification, as well as strengthen personnel policy due to problems in the labor market in Ukraine. In addition, the allocated funds will allow the company to increase its energy efficiency, as the building of the new plant will be built taking into account energy indicators.

It is emphasized that the total cost of the project is €63 million.

Since 2003, the Ukrainian group "Kormotekh" has been producing food for cats and dogs under the brands Optimeal, Club 4 Paws, "Hav!", "Meow!". The company has production facilities in Ukraine and Lithuania with an assortment of more than 650 items.

The final beneficiaries of "Kormotekh" are Olena and Rostyslav Vovk.

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