German sustainable construction company Nokera has signed an investment agreement with the Ministry of the Economy and Innovation, which plans to invest EUR 41.1 million in the construction of its new plant in Rudamina (Vilnius district). The plant is expected to create 300 new jobs over the next few years, of which approximately half will be dedicated to engineering workers with higher education.
The contract of the Lightspeed project, which has been awarded the status of a major investment project, plans the construction of a 23 000 square meters factory, which will produce bathroom and kitchen modules for sustainable, climate-neutral houses built from resource-efficient wood.
‘I am pleased that a growing number of investors is attracted by the Green Corridor initiative developed by the Ministry of the Economy and Innovation for large investors. The project in Rudamina brings obvious benefits to all parties: the Vilnius district, national budget and investors. It is important to the national industry; wood products used for the construction of sustainable housing will create higher added value for the country,’ says Minister of the Economy and Innovation Aušrinė Armonaitė.
The Green Corridor foresees that businesses investing at least EUR 20 million (EUR 30 million in Vilnius) in long-term capital and committing to create at least 150 new jobs (at least 200 new jobs in Vilnius) are given the status of a major investment project, which makes it much easier and quicker to get establihed. Such projects are subject to a 0 % corporate tax rate for up to 20 years. Negotiations with the company over possible investments were going smoothly.
The German sustainable construction company Nokera, headquartered in Switzerland, employs around 1 500 professionals in Germany and Switzerland. Nokera uses certified wood for construction and seeks to lead in the sustainable construction sector.
This is the sixth investment project in Lithuania, which has been granted the status of a major project. In total, the Ministry of the Economy and Innovation has already granted applications for 8 major projects with a total planned investment amounting to EUR 473.5 million. These projects are expected to create 2 328 new jobs.