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International Internet Magazine. Baltic States news & analytics Saturday, 27.04.2024, 06:39

Foreign, Lithuanian firms eye investment in aircraft repairs at Kaunas FEZ

BC, Vilnius, 20.10.2017.Print version
At least four foreign and one Lithuanian companies are interested in aircraft maintenance, repairs and overhaul (MRO) at the Kaunas free economic zone (FEZ), however, the investments that would create up to 2,000 well-paid jobs with an average monthly salary of over 2,000 euros are stalled by the government's indecision, Verslo Zinios business daily said, cites LETA/BNS.

FL Technics, MRO company that is part of the largest Lithuanian-owed aviation business group Avia Solutions Group (ASG) controlled by Gediminas Ziemelis, could be the fifth potential investor and create at least 600 jobs at the FEZ. Vytautas Petruzis, CEO of the Kaunas FEZ operator, said negotiations with FL Technics were in progress for a long time, however, no specific requests or decisions have been made.

 

In Petruzis' words, the problem hindering the accession of investments in FEZ is the around 800,000 euros in investment needed for a taxiway between the FEZ and the airport and the runway, however, the FEZ operator is not allowed to invest in the airport's territory, which is a strategic object, while the government cannot make up its mind. The investment would pay off in less than 18 months through the residents' income tax.





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