Kėdainiai FEZ attracted 3 million Euro of investments – fertilizer plant construction launched

19 January, 2017

The first plant construction launched at Kėdainiai Free Economic Zone (FEZ). On January 18th, a symbolic time capsule was buried at the site marking the start of company’s “Ikarai” fertilizer plant construction. During the three stages of construction more than 3 million Euros will be invested in a production and logistics center. The first stage of fertilizer plant construction is scheduled to be completed by the end of July, 2017. Conresta, UAB will be a general building contractor.

“We are very pleased that two years of a hard work bring tangible results, and we can finally welcome our first investors, who just laid a foundation for investments in Kėdainiai Free Economic Zone. We hope that “Ikarai” will successfully enter the local business environment and contribute to a better future in the region. And by helping them, we will become a part of their success story,” – says Kėdainiai FEZ Director Giedrius Valuckas.

In the 3.7 hectares’ plot designated for industrial use “Ikarai” will set up a plant and a heated logistics warehouse. Later on, the company intends to expand its capacity with additional production lines and provide pesticide and fertilizer storage services. Around 80 percent of its production company will export.

“The construction of a plant is a crucial step establishing our position as a manufacturer of liquid fertilizers. Considering its developed infrastructure, favorable approach of the FEZ operator and local authorities, we decided to invest in Kėdainiai FEZ. Furthermore, Kėdainiai FEZ is in a strategically good location,” – says Remigijus Streckis, director of the company “Ikarai”.

Production facilities and logistics warehouse area will take up to 1.8 thousand square meters. Construction work during the first stage estimates up to 1.5 million Euros. Another 0.5 million Euros “Ikarai” will invest in manufacturing equipment. The company plans to start the production this autumn and produce up to 10 thousand tons of fertilizer every year. After the successful project’s implementation, production will amount to 40 thousand tons every year. In the future, “Ikarai” will invest 0.3 million euros in a modern laboratory.