Month: January 2022

June 12, 2013 the full-cycle waste management and recycling joint stock company Eco Baltia opened the only high-quality PET pellet mill Eko PET at the Jelgava Business Park. The project of the mill was developed with the financial support of the Investment and Development Agency of Latvia and received LVL 3.7 million in investments. The new Eko PET mill is the most technically complex and modern plastic waste recycling factory in the Baltic States.

The annual output capacity of Eko PET is 8.5 thousand tons of PET pellets. This is the amount of raw material needed for the production of 270 million PET bottles, which exceeds the 160 million of PET bottles discarded in Latvia every year. Consequently the amount of pellets produced by Eko PET provides for both the Latvian and Estonian markets thus also making it the largest mill of this type in the Baltic States. The main cooperation partner and the supplier of PET pellets for Eko PET is the company’s co-owner joint stock company PET Baltija – the biggest PET waste management company in the Baltic States with a ten years’ experience in the market.

Artūrs Skroderis, Eco Baltia group board chairman: “The new Eco PET mill is an acknowledgement that by using modern technologies, a local company is capable of creating a plant with high value added. The resources of PET Baltija and Eko PET will allow for the recycling of PET bottles from all three Baltic States. This is a significant advantage in comparison to our neighbouring countries. The aim of the new mill is to provide raw material (PET pellets) for the production of new bottles not only to the Baltic region but also to compete in the international market. This will allow for the discontinuation of the use of non-renewable resources – crude oil products, and produce PET bottles from recycled materials.”

The company will produce pure recycled plastic or PET pellets with high value added from hot washed PET flakes. PET flakes are produced by recycling waste PET packaging collected in Latvia and other European countries. PET pellets is a secondary raw material used for the production of food packaging and is an alternative to the packaging produced from crude oil products. Recycled PET pellets may be used to produce food packaging, such as new PET bottles or film. The Eko PET mill has been installed with the PET plastic recycling machinery solutions by the leading Austrian machinery and process technology company Starlinger Group.

Andris Rāviņš, Mayor of Jelgava: “Jelgava has always preserved its traditions of production and productive environment for new businesses. The new mill confirms this – Eko PET is a significant contribution to the development and economic growth of the city thus developing it into a modern centre of entrepreneurship and industry. Furthermore every new business started in Jelgava means new jobs for the town. It also affirms the town’s high potential for new investments.” A strict internal quality control will be implemented during the production process which is the main precondition for the production of food grade PET pellets. The mill was launched in test mode on April 10 this year. The company has been certified by the Food and Drug Association (FDA) and the International Life Sciences Institute (ILSI). The company is preparing to implement a quality system according to ISO:9001, ISO:14001 and ISO:18001 standards.

The European Bank for Reconstruction and Development (EBRD) is acquiring a minority stake in Eco Baltia JSC, a leading provider of waste treatment in Latvia and the Baltic states. The Bank’s investment of €10 million will be used to finance construction of a mechanical biological treatment plant for household waste.

The plant will be the first of its kind in the region, focusing on extraction of recyclable materials from household waste. In Latvia, nearly 90 per cent of municipal waste is being landfilled and the new plant will play an important role in strengthening an approach to waste management in line with recent European legislation.

Eco Baltia was set up in 2002 and operates in waste recovery, waste collection, polymer recycling and the sorting and trading of recyclables. It is the largest waste management operator in the Baltic region with strong growth potential due to a stable macroeconomic environment and growing awareness of environmental concerns.

Matt Hyyrynen, EBRD Head of Office for the Baltics, said: “We are very proud to sign this investment because we believe in Eco Baltia and the company’s activities and strategic direction. By becoming a shareholder, the EBRD aims to make a strong company even stronger for the benefit of the environment and the economy. Companies are increasingly realising the vast potential of recycling and for this they need waste management operators like Eco Baltia.”

Māris Simanovičs, Chairman of the Board of Eco Baltia, added: “I believe that the EBRD is a valuable partner for Latvian companies operating or planning to operate on an international level. The EBRD’s contribution of financial resources, experience and high corporate governance standards is an essential addition to bring our potential to fruition. The EBRD’s decision to invest in our company after thorough examination is an endorsement of Eco Baltia and boost for our future development.”

The EBRD has been investing in Latvia since the country’s independence in 1991. To date, the Bank has invested more than €620 million in some 75 projects throughout all sectors of the economy. In recent years, the EBRD has focused on the support of small and medium-sized enterprises and investment in promising innovative enterprises through direct acquisition of equity or via funds.

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Environment management Group “Eco Baltia grupa” achieved turnover of MEUR 45.5 in 2015, which is an increase by 1.4% compared to 2014. Compared to 2014, the Group’s profit has tripled reaching MEUR 2.78 in 2015. The financial results show the efficiency and stable growth of the Group companies. Māris Simanovičs, “Eco Baltia grupa” Chairman of the Board: “We were working purposefully in 2015 to make the Eco Baltia Group companies more efficient and to increase the competition in the waste management industry by retaining stable leading position and offering our clients high-quality services. Our largest investment of 2015 was the waste sorting facility in Liepāja Region, where we invested MEUR 3.25. The facility has had, without doubt, a positive socially economic impact in the region, currently employing 24 employees, which is more than we had planned. This year we have also worked to ensure long-term development, creating new products and services for the market and improving the logistics system and quality of services. Our goal is to continue implementing modern, technologically developed waste management, sorting and recycling system that is as environmentally friendly as possible and competitive on the European and global level.”

The companies engaged in production of recycled materials AS “Pet Baltija” and SIA “Nordic Plast” continued developing in 2015 by increasing their production capacity and developing new products. The companies are leading processors of polymers in the Baltics exporting almost 100% of the produced goods mainly to other member states of the European Union. This year it is planned to implement new and more efficient technologies to increase the production capacity retaining the quality of products and implementing innovative products in the market. Last year the producer of recycled materials “PET Baltija” achieved turnover of EUR 18,355,991 and recycled 28,480 tonnes PET bottles. SIA “Nordic Plast”, in its turn, made comparatively small investments to ensure the production capacity in 2015. The company has produced 8,777 tonnes of ready-made materials, 90% of which was exported to other European countries and the company’s net sales amounted to EUR 9,130,159.

SIA “Eco Baltia vide” continued providing environment management services in the Rīga, Ādaži, Salaspils, Babīte, Mārupe, Talsi, Engure, Jaunpils, Kandava, Mērsrags, Roja and Dundaga Municipalities in 2016. Net sales of SIA “Eco Baltia vide” in 2015 amounted to EUR 7,416,530. The company generated profit of EUR 342,571. Last year, SIA “Eco Baltia vide” established the first waste recycled waste acceptance point in Rīga – on Getliņu Street 5, Rumbula, Stopiņu Municipality – where all inhabitants of Rīga and nearby region can deliver their recycled waste.

The environment management company PSIA “Jumis” provides environment management services in Sigulda and the nearby region. Net sales of the company was EUR 635,392 in 2015. Last year the company developed new projects and services. The company has established a network of eight recycled waste acceptance points in Sigulda. There are underground containers for sorting glass and plastic at each point. The project was implemented using the financing from the Cohesion Fund of the European Union. The total cost of the project was EUR 48,991, out of which EUR 19,544 was cofinanced by the Cohesion Fund.

The environment management company in the Liepāja Region SIA “Eko Kurzeme” implemented the largest investment project – construction of household waste sorting facility. By investing MEUR 3.25, one of the most modern facilities of this type has been established in the Baltics. The facility allows sorting up to 35,000 tonnes of household waste per year. This ensures the development potential of the facility in future and will allow reducing the amount of waste buried in the landfill. SIA “Eko Kurzeme” concluded the year 2015 with net sales of EUR 2,780,335 and the profit of EUR 409,784.

“Eco Baltia grupa” companies employ 600 employees. Last year, the Group companies paid taxes of MEUR 5.2. The Group companies service more than 46,000 clients in Latvia and abroad. “Eco Baltia grupa” companies are leaders in Latvia providing full waste management cycle – starting with collecting and sorting of waste and ending with recycling and exports of recycled materials.