RIGA, Feb 3 (LETA) - Schwenk Latvija cement producer plans a EUR 34 million investment in its plant, which based in the western Latvian municipality of Broceni, the company's representatives told LETA.

According to Schwenk representatives, the company plans to build a cement mill and a multi-chamber silo in what will be the company's largest investment projects since the launch of the Broceni plant. The new cement mill and multi-chamber silo are expected to significantly increase the plant's efficiency and reduce its impact on the environment.

The launch of the new cement mill and multi-chamber silo for storing cement at the Broceni plant is scheduled for the end of this year. The new structures will allow for using the plant's existing capacity more efficiently, expand the range of cement products made in Broceni by adding more environmentally friendly products and improve the company's export opportunities.

The new cement mill will be able to produce up to 170 tons of cement, depending on the type of cement and will partly replace the plant's old cement mill, which consumes more energy. 

The capacity of the 60 meters tall silo will be 12,500 tons and the structure will be designed for storing various types of cement, which will allow Schwenk Latvija to supply more cement to Latvia, other Baltic states and Northern Europe. 

Schwenk Latvija is a producer of cement, concrete and mineral materials. The company is a member of Germany's Schwenk Building Materials Group and employs around 350 people in Latvia. 

In 2019, Schwenk Latvija turned over EUR 94.459 million and generated EUR 36.399 million in turnover. The company is yet to release its results for 2020. 

As reported, in February 2019, Germany’s Schwenk Group invested EUR 340 million to expand its business in Europe by acquiring a number of assets in the Baltic and Nordic countries, including Latvia’s Cemex. Other assets acquired by Schwenk in Latvia include six concrete plants, four industrial mineral quarries, two cement raw material quarries, one port terminal and one land terminal.

The deal also included a 38 percent stake Cemex indirectly owned in a cement plant in Naujoji Akmene, Lithuania, which produces around 1.8 million tons a year, as well as export business to Estonia. Schwenk also purchased Cemex assets in Nordic countries, including three import terminals in Finland, four import terminals in Norway and four import terminals in Sweden.