On 25 March 2014, JSC Olainfarm entered into an agreement No. L-APV-14-0069 with the Investment and Development Agency of Latvia (the IDAL) on the implementation of the project No. APV/2.1.2.4.0/13/03/102 “Modernisation of the phenibut intermediate unit” (hereinafter — the project) within the framework of stage three of activity 2.1.2.4 “High added value investments” of the programme “Entrepreneurship and innovation” extension. (High added value investments (stage 3))

Within the project, high added value investments were made in the JSC Olainfarm structural unit “Modernisation of the phenibut intermediate unit”, by purchasing the necessary new equipment and reconstructing the premises to expand the phenibut semi-product drug production unit, and introducing a new high added value product in production.

Investments were made within the project to develop phenibut semi-products and produce a new product to introduce finished drug forms.

The total project costs are estimated at 1,931,138.33 EUR. Of these costs, 894,687.57 EUR are the estimated eligible project costs, whereas the estimated amount of public funding is 223,671.89 EUR.

It is expected to complete the project by 15 September 2015.

Project chronology:

On 13 December 2013,  JSC Olainfarm published an announcement on the Procurement Monitoring Bureau website regarding the procurement procedure with the following procurement object: Delivery, installation, commissioning of a set of pharmaceutical semi-product manufacturing equipment and employee training. Information about the procurement can be found here: https://pvs.iub.gov.lv/show/343524.

On 18 December 2013, JSC Olainfarm received a positive pre-contract inspection result from the IDAL.

On 14 February 2014,  JSC Olainfarm published an announcement on the Procurement Monitoring Bureau website regarding the procurement procedure results: Information about the procurement can be found here: www.iub.gov.lv/

On 24 February 2014, JSC Olainfarm published an announcement on the Procurement Monitoring Bureau website regarding a repeat procurement procedure for the manufacturing equipment (for the pharmaceutical semi-product), workshop 6. Information about the procurement can be found here: https://pvs.iub.gov.lv/show/349969.

In March 2014, the procurement procedure was finalised and the winners were announced, as well as all procurement delivery contracts were concluded, on which a positive opinion was received from the Investment and Development Agency of Latvia.

In September 2014, reconstruction works of premises in block 6 took place, and in October it is planned to start reconstruction works in block 4. Payments for equipment were made according to the concluded contracts.

In December 2014, the final payments were made for the suppliers for the delivered equipment.

In January 2015, the simplified reconstruction works were completed in the production block 4 and 6.

In January 2015, all equipment planned in the project were delivered.

On December 16, 2015 was approved and paid support funding. The total public funding received 202 681.56 EUR (ERDF).