Lietuvos Rytas reported that a group of Italian investors plan to build a logistics center on a four-hectare land plot close to Marijampole, costing approximately 20 million litas (5.8 million euros). The land has been rented off to the company Ethical Products Distribution for a 99-year period. The new logistics center, equipped with a block of refrigerated rooms, would be employed for the storage and distribution of Italian- and Lithuanian-made products designated for the Baltic and Eastern markets. The Italian business village, the only one of its kind in Lithuania, was launched close to the Via Baltica highway in 1997.
The revamping of Tallinn Airport, which was supposed to have begun in June, will cost nearly 64 million euros and will only begin this fall since no suitable bids were made in the respective procurement. The procurement for the first of two projects, restructuring the airside area for a projected 24 million euros, was delayed due to tough EU subsidy requirements and the market's current building boom, the business daily Aripaev reported. "Of the two bids made, both were nearly 50 percent above the mark," airport development director Tonu Muhle said. The second project, a 23 million euro extension of the passenger terminal, will get off the ground in September. "We agreed because foreign factories are on holiday during the summer, and all the technology comes from abroad," Muhle said.
An Estonian bankruptcy court agreed to give Werol, a rapeseed oil producer, the opportunity to carry out its business plan, including payment of debts, by the end of August. Werol has at least 70 million kroons (EUR 4.47 mln) of debts and the debt may even amount to 120 million kroons. The still state-owned rapeseed oil producer admits a debt of 50 million kroons.
