News update:Mar 9, 2016

Jagminas establishes new €2.3 mln poultry complex

Chickens for fattening were moved from AB Kauno Grudai to Jonas Jagminas' farm in Moletai District. It will be the fifth such farm owned by the politician's family, informs LETA/ELTA.

Half of the complex will be operational for now. However, it will be fully operational by next summer.

Investments in the poultry farm constitute up to LTL 8 million (EUR 2.3 million), they are expected to give a return in 4-5 years. AB Kauno Grudai will buy only farming service. In accordance with the business model, chicken and feed will be provided by AB Kauno Grudai, the company will also collect the produce.

Tautvydas Barstys, Head of AB Kauno Grudai, says that such business model is common in Europe. According to him, most of major companies in France work this way.

"More such farmers are emerging in Lithuania too. Currently we are working with ten farmers who grow poultry on order, although Jagminas' farms are the biggest," said Barstys.

World Poultry

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