Business news

LIDA, 27 May (BelTA) – ARVI Group of Companies has plans to further develop its projects in Belarus, ARVI Chairman of the Board Vidmantas Kucinskas said at the twelfth Belarusian-Lithuanian forum in Lida on 27 May, BelTA has learned.

The Grodno Oblast Executive Committee and Marijampole ARVI signed a memorandum on additional investments during the forum. The Lithuanian group of companies has plans to invest in further development of its two projects in Grodno Oblast.

“Our first project in Grodno Oblast was the construction of the first in Belarus animal by-products processing plant Biovast in Lida District. Initially, we had some doubts about the feasibility of the project, but now we are very much content with its results. The plant is successfully operating. It exports 100% of its products. We have plans to triple its output by September,” Vidmantas Kucinskas noted.

In July 2016, ARVI will also commission a large enterprise to make turkey products. “We see that this business has great prospects in Belarus. We estimate that another three turkey farms can be set up in the country keeping in mind the rate of turkey consumption in Lithuania (2.6kg per capita per year) and Poland (10kg per capita). At the current stage, we are ready to increase investments in this project and expand the enterprise. If we reach an agreement with banks, we will continue running projects in Belarus. The high-level of professional skills of specialists in Grodno Oblast is another reason for us to work here,” Vidmantas Kucinskas stressed.

ARVI is a group of agricultural and food companies with Lithuanian capital. It is involved in the production of fertilizers, fodder and sugar, meat processing, treatment of animal by-products, and freight forwarding. The group comprises more than 20 companies operating in Lithuania Latvia, Russia, Romania and other countries.