Hella KGaA Hueck & co., a German manufacturer of lighting technology and electronics products for the automotive industry, and the Lithuanian Kaunas Free Economic Zone have finalized a long term land lease agreement. During the first stage of development up to €30 million investment in a production plant is planned and this will create up to 250 new jobs. Depending on the pace of growth, more investments are expected in the future.
Kaunas Free Economic Zone
© Bendrovės archyvas

A 99-year lease agreement with Hella marks the inauguration of the second development phase at Kaunas FEZ. In a site of 8.9 ha Hella will build a single module 7000 square meter production plant, which may be extended to additional 3 modules. Starting in the summer of 2018 the plant will mainly produce sensors, actuators and control modules for automotive industry. Due to a strategic location of the plant at Kaunas FEZ, Hella will be able to take advantage of being in a close proximity to the Kaunas International Airport, and in the future, a direct railway line to the Rail Baltica, Kaunas FEZ announced in a press release.

For Kaunas FEZ General manager Mr Vytautas Petružis Hella’s location choice for their plant in Lithuania signifies Kaunas’ competitiveness on a global scale. “The first development phase of Kaunas FEZ has reached almost 90% of utilization, therefore, we are very excited to start the second development phase with one of the top 40 automotive parts suppliers in the world. We were able to provide Hella with favorable investment environment, well-developed infrastructure and beneficial solutions for their transportation needs”, says Kaunas FEZ General manager Mr Vytautas Petružis. “We hope that Hella’s arrival at Kaunas FEZ will encourage other automotive suppliers to explore business opportunities in Lithuania.”

At Kaunas FEZ, Hella will join 21 companies already running their business and 3 that are currently establishing their premises. Lithuanian as well as foreign aviation industry players are looking into investment possibilities, while smart technology enterprises are expected to follow. A 5000 square meter office building will open for lease on Business Street in October 2017, opening up opportunities for service centers.

Kaunas FEZ Management Company has started its operations in 2004 and attracted 31 investors throughout the entire period of activity, which together occupy an area of 87 hectares, 15% of Kaunas FEZ capacity. The total number of investments at Kaunas FEZ amount to €489 million, 70% of which come as FDI, and in total there already are or will be 3456 jobs created.

Įvertink šį straipnį
Norėdami tobulėti, suteikiame jums galimybę įvertinti skaitomą DELFI turinį.
  • 1
  • 2
  • 3
  • 4
  • 5
(0 žmonių įvertino)
0
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Wellness start-up Urban establishes development office in Lithuania

Urban was founded in 2014 by Jack Tang and Giles Williams to provide easy and affordable access to...

Profits in Lithuanian banking sector highest since 2007 (1)

Lithuanian banks and branches of foreign banks in Lithuania earned almost 358 million euros (406...

Alternative lending in Baltics is taking market share from traditional banks and credit unions

In the ever-growing European alternative finance market, Lithuania - together with other Baltic...

Global supplier to mobility industry to open shared service centre in Lithuania

Dana Incorporated, a world leader in highly engineered solutions for improving the efficiency,...

Lithuanian organizations join forces to manage fintech risks

Nine Lithuanian entities agreed on Monday to cooperate in managing risks in the financial technology...