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Sopena Group plans hefty investment in new Ventspils aluminum plant
Nina Kolyako, BC, Riga, 29.09.2010.
Print version
Print versionSpain's Sopena Group says it is planning to invest EUR 11.3 million in the first stage for its new aluminum plant in Ventspils. Sopena Group representative Umberto Cisotti made the announcement yesterday after signing an agreement with Ventspils Freeport on land rental and construction.
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He mentioned as the reason why Ventspils was selected was that in a 1,000 kilometer radius around Riga there are no such plants, informs LETA.
"Latvia was chosen because we were attracted by the favorable tax policy, costs structure and the government's investment support system," the company's representative explained.
As for Ventspils specifically, its offer was the most economically sound and favorable, Cisotti said, adding that Sopena Group also had spoken to the Liepaja and Jelgava municipalities.
The main markets for the aluminum products will be the Baltic States, Russia, Belarus, Ukraine and Poland.
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