Modernization and Expansion through the European Maritime, Fisheries and Aquaculture Fund (2021–2027)
In 2023, SIA Banga Ltd, thanks to the Rural Support Service, started the European Maritime, Fisheries and Aquaculture Fund (2021–2027) project Investment in Processing of Fishery and Aquaculture Products, Round 1, No. 23-00-U2021901-000003.
Modernization and expansion was set as the main fundamental objective. To achieve this fundamental objective, the following sub-objectives were defined:
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to increase storage areas for raw materials required for the company’s manufacturing, which would meet the food company hygiene requirement standards;
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to speed up processing of finished products;
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to expand areas for storage and processing of finished products;
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to improve the infrastructure of the company’s territory.
Within the project, the company SIA Banga Ltd has built a new warehouse for finished products, which ensures more efficient preparation of finished products and provides additional space for their storage until the finished products are shipped to customers. Storage areas for raw materials have been expanded, renovating a building already situated in the company’s territory, so that it meets the food company hygiene requirement standards and it can be used for storage of raw materials necessary for production.
Within the project, the infrastructure of the company’s territory has been improved, carrying out gravel cover asphalting works to ensure efficient and safe transportation of finished products from the production facility to the finished products warehouse and guarantee successful supply of raw materials.
Thanks to the investment made for acquisition of production equipment, the company will be able to increase its production capacity and speed up the processing of finished products and improve the production process to create high quality products that meet the requirements of customers.
The total eligible costs of the project constitute EUR 809,963.75, including the public funding equal to EUR 404,981.86 and private funding equal to EUR 404,981.89.