On 15 August 2012,  JSC Olainfarm entered into an agreement No. L-APV-12-0039 with the Investment and Development Agency of Latvia on the implementation of the project No. APV/2.1.2.4.0/12/02/049 “High added value investments in the production of Nitrofuran drugs”. (High added value investments (stage 2))

Within the project, high added value investments were made in the JSC Olainfarm structural unit “Nitrofuran drug production unit”, by acquiring the necessary equipment and reconstructing the building to accommodate a Nitrofuran drug production unit.

Within the project, investments were made into the existing Nitrofuran group products (Furamags, Furagīns, Furadonīns), as well as in the development of a new Nitrofuran group product.

The total project costs are 9,598,280.78 EUR. Of these costs, 7,263,439.85 EUR are eligible project costs, whereas the amount of public funding is 2,542,203.94 EUR.

The project was implemented from 15 August 2012 until 15 January 2015.

Project chronology:

• The procurement procedure for construction works and equipment took place before May 2013. 28.03–30.04.2013. A construction procurement for the reconstruction of the central heating facilities into a Nitrofuran production unit. Information about the procurement on the website of the Procurement Monitoring Bureau (PMB) www.iub.gov.lv.
• 25.02–19.03.2013. An equipment procurement was announced in the following categories: “Analytical equipment”, “Small series production equipment”, “Large series production equipment”, and “Production equipment (for the substance)”. Information about the procurement on the website of the Procurement Monitoring Bureau (PMB) www.iub.gov.lv.
• On 17 June 2013, a contract was concluded on the reconstruction of the central heating facilities into a Nitrofuran production unit.
• By June 2013, 22 contracts on the purchase, delivery and installation of 53 pieces of equipment were concluded.
• In April 2014, support funding in the amount of 904,040.02 EUR was approved and paid out.
• In June 2014, the clean rooms on the first floor of the Nitrofuran production unit were constructed, and nearly all of the necessary communications were installed.
• On 14 August 2014, the Investment and Development Agency of Latvia performed an on-site project inspection.
• By September 2014, construction works had been finished.
• On 13 January 2015, with the participation of the President of the State Andris Bērziņš, the new finished drug production unit of JSC Olainfarm was ceremoniously unveiled. It consists of a Nitrofuran drug production unit, small series production unit of finished drugs, and development laboratories of finished drug forms.
• On 19 January 2015, JSC Olainfarm submitted a Final Report on project implementation to the Investment and Development Agency of Latvia.
• On 30 March 2015, the Investment and Development Agency of Latvia performed an on-site inspection of the European Union fund project (at JSC Olainfarm). 7 April 2015, JSC Olainfarm received the inspection evaluation: the result is positive, no shifts from the project implementation conditions were detected.
• On 16 April 2015, support funding in the amount of 775,944.28 EUR was approved and paid out.

Total public funding received in amount 2 541 992.29 EUR (ERDF).