Riga, Sept 25 (LETA) - Environmental management company Eco Baltia Vide will open a new waste sorting plant or resource management center in Salaspils municipality on October 9 this year, the company's representatives informed LETA.

Eco Baltia Vide has invested EUR 11.7 million in the development of the resource management center. The new plant has a planned sorting capacity of 45,000 tons per year, the company said.

The new plant is linked to the European Commission's requirements that EU member states should be able to recycle and reuse 55 percent of the total amount of municipal waste by next year. Also, by 2035, only 10 percent of the total amount of waste will be allowed to be landfilled, while 65 percent of packaging must be recycled, the company explained.

Last year, the company informed LETA that the new plant would be able to sort 20,000 tons of municipal waste and 25,000 tons of sorted waste annually.

Eco Baltia Vide reported a turnover of EUR 53.999 million last year, up 9.5 percent on 2022, while its profit rose 2.2 times to EUR 12.179 million.

The company was registered in 1996 and has a share capital of EUR 14,203,470. Eco Baltia Vide is wholly owned by Eco Baltia. 

The shareholders of Eco Baltia are BSGF Salvus (52.81 percent), representing INVL Baltic Sea Growth Fund, the largest private investment fund in the Baltics, the European Bank for Reconstruction and Development (30.51 percent) and Maris Simanovics (16.68 percent) through Enrial Holdings and Penvi Investment.