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The Freeport of Ventspils has rented out production premises for the company, while the investor has managed to attract EUR 2.5 million funding from the European Union Structural Funds as support for a project with high value added.

"They are the fourth largest chocolate manufacturers in Russia, and are launching a new, modern factory here. They were looking for production opportunities in the Baltic States, and we were able to offer them property immediately. It is good that such European Union support program exists. It was mainly a coincidence, as they required premises immediately, and fortunately we were able to offer them. They still need to be slightly adjusted while the project is being clarified and facilities procured," Lembergs said, adding that the investor has already ordered production equipment from Austria.

It is said that the factory will employ 75 people.

The factory will be located in the former wood production company Dendrolight Latvija premises renovated by the Freeport of Ventspils.

The new factory could begin operating in May, 2015, Lembergs speculated.

Pobeda Confectionery was founded on April 1, 2014. The company's share capital is EUR 3,000. It belongs to three Russian citizens – Andrey Muravyev, Vitaly Muravyev,and Olga Muravyeva, as information provided by Firmas.lv indicates.