By investing just over 20 million euros, currently the only production unit of pressed wooden blocks in the Northern Europe Baltic Block was established near Madona.
The woodworking complex involves not only the production unit of pressed wooden blocks owned by LTD RDN, but also cogeneration stations with electric capacity – 1,9 MW and heat capacity – 10 MW, owned by LTD Betula Premium. “We work under brand Baltic Block, and shortly the company will also have the same name”, explains director of LTD RDN Andris Dombrovskis. He also indicates that the established production unit is unique not only for the reason that there is no such other production unit in the region, but also that it processes low quality combustible wood into industrial wooden articles, which will be used by the manufacturer of wooden pallets.
For development of the production unit of the product, which has been not produced in Latvia and through the Baltic States before, i.e. pressed wooden blocks, the funding from EU structural funds programme “High Value-added investments” was raised, as well as guarantees from Latvian Guarantee Agency and funding form Nordea bank. In Madona vicinity it is the biggest investment project during the last twenty years and the biggest implemented investment project in the timber industry this year in Latvia.
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