Baltic Export, Good for Business, Investments, Lithuania, Markets and Companies

Photo: lrv.lt

"(It shows – BNS) the best investment climate is the best, not only for foreign investment that we have so far got used to attracting, but also Lithuanian-capital investment," the prime minister said during the production facility's opening on Friday.

VMG invested 146 million euros into the particleboard production facility and created 140 new jobs.

"Akmene was considered to be a dead region several years ago, having no people, no jobs, and this plant is the first stage during which 140 jobs were directly created, and constructions and servicing companies are still linked to the supply, transportation of food and exports of products, so the affect on the whole country is huge," the prime minister said.

The new facility will have an annual capacity of 600,000 cubic meters and it will grow in the future.

VMG is already building a new furniture production facility near the first one and will invest around 60 million euros. It is scheduled to start operation in a year.