After investing EUR 80 million in the past few years, the Lithuanian-owned Latvian fish production company „Port Lite“ plans an ambitious expansion and a 10-fold increase in turnover this year.

The company, which grew its turnover by 44% to EUR 5.2 million last year, expects it to reach EUR 50 million this year, and plans to create up to 200 new jobs and increase production volumes and exports, „Port Lite“ announced on Tuesday. 

„We ended the year with one of the largest industrial investments in Liepaja (...). With state-of-the-art equipment and the most advanced production lines, which are now fully operational, we have already significantly increased our production volumes in the first month of 2025," said Sigitas Ambrazevičius, founder and shareholder of „Port Lite“ in a statement. 

The company last September completed an €80 million investment programme for its Liepaja plant, which started in 2021. For this, „Port Lite“ received a €31 million loan from the Latvian Rural Support Service and „Rietumu Banka“.

„One of the most challenging phases of our development is now behind us, and we are now starting our active expansion (...). We are now expanding production to meet growing international demand. So our production volumes will continue to increase every month," added the founder.

The company's 27,000 square metre facility, which will be built over three years, will process up to 30,000 tonnes of salmon a year, producing crab-flavoured surimi sticks and other surimi products. 

„Port Lite“ exports its products to more than 15 countries, including Spain, Portugal, Ukraine, France, Germany and other countries, with plans to expand to new markets in the future.

The 8.5 hectare plot of land with buildings and equipment in Liepaja was purchased by S. Ambrazevičius two years ago and production resumed at the end of that year. 

The company currently employs more than 200 people and is expected to grow to 700 within three years.

S. Ambrazevičius also owns a fish products company in Šilutė called „Dauparų žuvis“, a logistics and frozen fish trading company in Klaipėda called „Benko“, and a part of the warehousing and logistics company called „Kaminatrans“ in Lithuania.