SPC Legal has advised the Panevezys free economic zone (FEZ) on concluding an investment agreement with Arginta Engineering. Ellex advised the investor.
"Arginta Engineering is planning to build a modern, 15,000 square-meter factory in Panevezys FEZ, which will be equipped with innovative production, administrative, and household premises that meet western standards," SPC Legal informed. "Among other things, Arginta Engineering is planning to invest about EUR 15 million in a new factory and, until 2027, create up to 300 new jobs for programmatic machine tool operators, welders, and others, both experienced manufacturing workers and motivated trainees, who would like to change the field of work."
The Panevezys FEZ is a 47-hectare economic zone in Panevezys, Lithuania, offering businesses tax incentives and access to infrastructure, including roads, water and sewage facilities, electricity, inner roads, lighting, and natural gas pipelines.
SPC Legal previously advised the Panevezys FEZ on an investment from AQ Wiring Systems (as reported by CEE Legal Matters on November 18, 2020).
The SPC Legal team included Partner Povilas Karlonas and Associate Sandra Narmontaite.
The Ellex team was led by Senior Associate Dominykas Uzkurnys and included Partner Olga Petroseviciene and Senior Associate Gabriele Vazniokaite.
