BAKU, Azerbaijan, April 2. A Kazakh company has submitted documents for obtaining a permit for the construction of a plant in Lithuania, Trend reports via the Kazakh media.
The Kazakh Hill Corporation company may start construction of a lubricant production plant in Klaipeda region (Lithuania) in June.
The initial investment was supposed to be about 105 million euros, but the timing and prices have changed due to the pandemic. Thus, now the price for the construction of the plant might reach 150 million euros.
Earlier, it was noted that Kazakhstan is expanding cooperation with the EU in a number of new directions. Kazakhstan remains the only country in the region that has signed and ratified the enhanced Partnership and Cooperation Agreement with the EU and its member states.
Due to the geopolitical situation in the region, many European companies express significant interest in relocating to Kazakhstan. There are already concrete agreements with large companies in the UK, Lithuania, Denmark, the Czech Republic either on opening a new production facility in Kazakhstan, or on moving their regional offices.