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06-03-2019

Baltic highway in Panevezys Free Economic Zone

It is planned to have Panevėžys Free Economic Zone (FEZ) linked to the key Baltic highway, Via Baltica, in 2019. This will facilitate the development of the production, logistics and warehousing services in the FEZ.

As it stands now, phase 1 (the interconnection of the FEZ area with the Via Baltica highway by way of a roundabout), which received investment worth around EUR 3.5 million, has been completed. In 2019, it will have a direct access built from the main street of Panevėžys industrial district to the roundabout, which was built this year and leads to the Via Baltica highway. A technical project is already in place. The project is expected to attract investments worth around EUR 2.5 million.

Rokas Krivonis, the Director of Panevėžys FEZ, stresses that it is one of the key projects for year 2019, which will not only help the service and operating transport move more efficiently inside the FEZ, but more convenient logistics will also facilitate the development of the logistics and warehousing services in the economic zone.

“Close proximity to the city is a huge advantage for this greenfield investment. When the development of the transport infrastructure unit is finally completed, we will be more appealing to logistics and distribution businesses and will maximise our geographical advantages”, says the head of Panevėžys FEZ quoted in a press release.

According to him, the more convenient and better quality infrastructure will help diversify the investment portfolio and become more attractive not only to production, but also logistics or distribution centres, which are owned by the major investors in Panevėžys FEZ supplying their products from Panevėžys not only to the European but also to global markets.

The FEZ also has the increase of the power distribution unit capacity up to 10 MW in the plans. The investments in the construction of the said unit will account for EUR 1 million. This project will reduce the time investors need to have their businesses set up.

Source: https://bit.ly/2IVhxcy

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