10 million Euro new Continental plant is to be built
Merko statyba, a Lithuanian subsidiary of the Estonian construction group Merko Ehitus, will build a new production building for Continental, the manufacturer of automotive electronic components, reports BNS.
The expansion of a plant of the German company in Kaunas district is going to cost more than 10 million. Construction is planned to start in the first quarter of this year and be completed in the first half of 2022, Merko Statyba reported.
In early February Continental, one of the largest investors in Lithuania, announced that it will invest more than 90 million Eur in the development of the plant in Kaunas Free Economic Zone (FEZ) and will create another 500 jobs by 2025. By this means the number of employees will reach 1.5 thousand.
After the implementation of the second stage of development, Continental’s investments in Kaunas will reach about 185 million euros. The area of the Continental plant will increase by 15 000 sq.m. meters – the production area alone will increase by 10 000 sq.m. meters, office and storage space – 3000 and 2500 sq.m. meters.
Continental started operating in Kaunas district at the end of 2019. The plant was built by Conresta, one of the largest construction companies in Lithuania. Merko Group operates in Latvia and Norway, its consolidated turnover in 2019 was 327 million euros.
