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President Dalia Grybauskaitė and the Minister of Economy Virginijus Sinkevicius will participate Friday in the construction ceremony of the Continental plant of the German auto components factory, where the president will announce the start of works.
Continuation of the construction of the Kaunas Free Economic Zone The new electronic components production unit plans to invest 95 million euros. 1,000 euros and create about 1,000 new jobs
As reported by the presidential press service, it is the largest investment project in recent years. The factory will produce high value-added products for the automotive industry – the most advanced automotive management systems. This, according to a report, will bring Lithuania into the world of car manufacturers and create the opportunity to take advantage of the potential of our engineers. It is expected that the factory will start operating in Lithuania in 2019.
According to the President, this investment reaffirms Lithuania's close ties with Germany, our strategic defense partner – its troops head the NATO defense battalion deployed in Lithuania.
Germany is also one of the leading foreign investors. The third largest foreign direct investment partner is our second largest trading partner.
The giant Continental was founded 147 years ago in Germany. The annual business turnover of the company rises to 44 billion. The euro is more than the gross domestic product of Lithuania. In total, this company employs more than 240 thousand.
As the company informs, Continental's executive director, Continental Central Electronical Plant, which includes 30 factories around the world, will present other projects in Lithuania, according to the press service from the company. , director Hans-Jurgen Brown and head of the new continental factory Shayan Ali
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