Israeli businessmen have revealed plans to open two factories in Alytus, Lithuania, creating up to 500 jobs.
The Israeli based Strauss Group is looking for a location to build two factories for coffee bean processing and the manufacturing of packaging equipment cylinders.
The heads of Alytus City Municipality and members of met this week to discuss plans.
"We have high expectations for Lithuania and mutual cooperation, we hope to sign the first agreements in a month. We would like all processes to proceed quickly, therefore, we hope that the new factories could be built in one year. Israel regards Lithuania as its manufacturing partner" said Mikail Kobelt of the Strauss Group.
According to Kobelt, Alytus' geographic position is attractive as it facilitates exports to the European Union countries, Russia and Ukraine.
It is planned to invest up to 1.4 million euros in equipment whilst even more funds would be needed for construction of the plants.
It is estimated that 15-25 jobs will be created at the beginning of the project. However, in the future the number would increase to 500.