Norwegian Devold to build a 15 million euro factory in Lithuania

The Norwegian company Devold, which is engaged in making knitwear, is building a new plant in Panevezys Free Economic Zone, Lithuania. In June the Norwegians will have to test new equipment and for that they need natural gas. For this reason, Lietuvos Dujos laid a gas supply pipeline to the factory in three months rather than in six.

“This shows investors that, first of all, they are very welcome and that, second, they are taken care of. I hope and believe that the gas supply pipeline will improve the existing infrastructure, thus allowing companies to save costs and time when setting up,” Rokas Krivonis, the director of the Panevėžys Free Economic Zone said.

According to Krivonis, the investments amount to 15 million euros. Two more companies purportedly intend to set up there after the Norwegians, and more than 400 jobs will be established.

Even more possibilities in Panavezys Industrial Park

More than 12 hectares in the industrial park situated in Panevėžys District have also been empty even though the land is next to the road and has all utilities. “The auction of plots of land that took place in May was successful and we already have our first investor. An agreement has been signed and a plot of 40 ares leased. We will see what the investors offer us,” said Raminta Butėnaitė, the head of the Investments and Foreign Relations Division at Panevėžys District Municipality.

Representatives of the District Municipality also expect a successful auction of land plots in June.

Read full article in Lithuanian at delfi.lt