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Signing contract with AS SEB Bank on financing for the ERDF project “constructing factory for fiberglass goods production”

By In News On Wednesday April 26th, 2017

NORPLAST SIA, on 6 December 2016, successfully entered into a contract with CFCA for the construction of a new factory to produce fiberglass goods. The project, numbered is co-financed by ERDF.

In the second phase of the project, AS SEB Bank has agreed to the financing of EUR 675,000. According to the procurement procedure in the agreement, the winning builder will start the construction of the new factory.

The project is to build a new factory to produce fiberglass goods including oversized fiberglass products, to improve the productivity of the existing manufacturing process of the company and to increase the Company’s turnover in the production industry.

The project aims at (1) building a new factory covering an area of 1,030sqm with internal and external developed infrastructure (2) equipping the new factory with all necessary engineering facilities required for the production (3) employing 9 new staff.

The new factory will be built at Vecsaldes, Saldus Parish, Saldus district, LV-3862.

The total investment for the project is EUR877,963.71 with the referable capital of EUR 783,000.30. ERDF will co-finance EUR 352,350.13 which equals to 45% of the referable capital of the project.

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