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The projects would be among the largest greenfield investments in Lithuania's history.

Alina Adomaityte, president of the Indian Chamber of Commerce, which was established in September, confirmed  that India's SVP Global Ventures and Elegant Industries are planning the investments. 

Adomaityte on Tuesday attended the signing of letters of intent by the Economy Ministry and the two Indian companies. 

"They have explored the European market for the past two years and selected Lithuania as their final choice," she told. "Our country, its clear tax system and its geographical location, best fit their needs". 

According to Adomaityte, Bombay-listed SVP Global Ventures plans to invest 97 mln euros in a textile factory that will employ 1,500 people and Elegant Industries intends to create around 200 new jobs in its planned 95-mln-euro can production facility.

"Preparatory work will begin next month, and we plan to start groundworks in the first quarter of next year," the president of the Indian Chamber of Commerce said. 

"As we haven't yet received all the data, we are considering two options: Rokiskis and the Klaipeda Free Economic Zone. Priority is given to Rokiskis, and Klaipeda is our option B in case something changes," she added. 

Both factories are planned to be built by 2020.

The German automotive component giant Continental this past summer launched construction on a 95-mln-euro plant in Lithuania, the biggest greenfield investment in the country so far.