Preparing Investment and Development Agency of Latvia project proposal "JSC Saldus Mežrūpniecība product production technology development and modernization" in accordance with Regulations of the Cabinet of Ministers No. 200 from February 24, 2009, procurement procedure was carried out in accordance with regulatory laws and regulations on the procurement. Information about procurement subject and regulations were published in the Procurement Monitoring Bureau website, where also the procurement results can be found.

Contracts with the winners will be entered into completely after the conclusion of a contract with Investment and Development Agency of Latvia on the implementation of the project.

The project goal - to create the manufacturing infrastructure needed for the company to process efficiently the widest assortment of coniferous sawn timber and to create new products. Lumber production complex will be re-installed and a suitable infrastructure will be created.

The company plans to fund this project by use of both its own funds and credit resources.

The project is planned to be implemented in the period until November 2011

On 12 .02.2010, letter from the Investment and Development Agency of Latvia "On the Approval of European Union Fund Project Application with the Condition" was received with condition that funds are not currently received. Contract with the Investment and Development Agency of Latvia is planned to conclude until 15th March. It is planned to receive funds in 3 installments in July 2010, Dec. 2010 and Nov. 2011. Precise terms of receipt will be set forth in the contract, which is not yet signed with the Investment and Development Agency of Latvia currently.