Latvian wood industry company Stiga RM has started construction of a new large-format and non-standard birch plywood factory in T\u012bn\u016b\u017ei parish, Ogre region. The development was marked on October 31 with a ceremonial laying of a time capsule at the construction site in \u201cNorup\u0113s.\u201d<\/p>\n
The project, which will be completed in two phases, represents a total investment of \u20ac92 million by 2029. According to the company, the new factory will become one of the most modern plywood production facilities in Northern Europe.<\/p>\n
The ceremony was attended by J\u0101nis Irbe, Parliamentary Secretary of the Ministry of Climate and Energy, \u0122irts Kr\u016bmi\u0146\u0161, State Secretary of the Ministry of Agriculture, Andris Krauja, Deputy Chairman of the Ogre Municipality Council, and Andris Ramoli\u0146\u0161, owner and Chairman of the Board of Stiga RM.<\/p>\n
The first phase of the project, scheduled for completion by the end of 2026, includes the construction of a 14,500 m\u00b2 production facility with an annual capacity of 50,000 m\u00b3 of plywood and the creation of 50 new jobs. The second phase, expected to be completed by 2029, will add another 18,500 m\u00b2 of production space, 200 new jobs, and an additional 30,000 m\u00b3 of annual capacity.<\/p>\n
When both phases are completed, the Stiga RM Norupe plant will employ 250 people and reach an annual output of 80,000 m\u00b3 of birch plywood, mainly for export to around 60 countries.<\/p>\n
Of the total \u20ac92 million investment, \u20ac34.6 million will come from the company\u2019s own funds, \u20ac47.4 million from loans provided by OP Corporate Bank, and \u20ac10 million through a loan from JSC Development Financial Institution Altum under the \u201cInvestment loans for large and medium-sized enterprises with a capital discount\u201d program.<\/p>\n
After completion, the new factory will have a total area of 35,500 m\u00b2 and is scheduled to start operations in 2029.<\/p>","protected":false},"excerpt":{"rendered":"
Latvian wood industry company Stiga RM has started construction of a new large-format and non-standard birch plywood factory in T\u012bn\u016b\u017ei parish, Ogre region. The development was marked on October 31 with a ceremonial laying of a time capsule at the … Continue reading