Agrowill Group investing in implementation of Nitrates Directive

In 2008, Agrowill Group will implement investment projects under Activity 1 of Measure 6 of the Rural Development Programme for Lithuania 2007–2013 “Compliance with the requirements of the Nitrates Directive and the new compulsory Community standards” at seven agricultural companies (Alanta ŽŪB, Jurbarkai ŽŪB, Žadžiūnai ŽŪB, Kairėnai ŽŪB, Vėriškės ŽŪB, Želsvelė ŽŪB and Nausėdė ŽŪB). 

The implementation of these projects will start in June 2008 and is planned to be completed in January 2009. The total value of the projects planned is LTL 9,396,050.83.

In early July, bank DnB NORD signed credit agreements with the agricultural companies. By 22 July, all the seven agricultural companies signed support agreements with the National Paying Agency under the Ministry of Agriculture. Support from the European Agricultural Fund for Rural Development and Lithuania’s national budget is scheduled to amount to LTL 2,781,666. The implementation of the approved EU Nitrates Directive will help Agrowill Group to solve the current problem of environmental pollution with nitrogen compounds and successfully use nitrates as fertilisers in agriculture, thus saving the costs of crop production activities.

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