Cobalt has advised plywood producer Latvijas Finieris on the investment project for the expansion of its RSEZ SIA Verems production facility in the Rezekne district.
According to Cobalt, "the expected amount of investment exceeds EUR 67 million and is considered to be the largest private capital investment in the Latgale region in recent years. The project will be implemented by the end of 2024, and it includes a significant expansion of the production premises to 16,500 square meters."
Latvijas Finieris is a plywood producer with production facilities in Latvia, Lithuania, Estonia, and Finland.
"Evaluating the sustainability of the project, it is also supported by the Latvian state," the firm informed. "On July 12, Latvijas Finieris received approval for the granting of EUR 10 million in financing from the loan program Investment Loans for Large and Medium-sized Companies with a Capital Discount for the Promotion of Competitiveness implemented by the Latvian Investment and Development Agency and Development Finance Institution Altum."
The Cobalt team included Partner Gatis Flinters and Senior Associate Toms Krumins.
