The Nordic Investment Bank (NIB) has signed an agreement with Latvian capital Riga’s heating supplier, Rigas Siltums, on a ten-year loan of EUR 20mn, LSM reports. Rigas Siltums will use the funds to finance its 2022-2023 investment programme to improve the district heating infrastructure in Riga. The company will invest a total of EUR 29mn…
Lithuania’s state-owned rail freight operator, LTG Cargo, plans to buy electric locomotives for around EUR 100mn to transport cargo between Vilnius and the port of Klaipeda, Baltic News Network reports. The company has launched an international public procurement procedure for the purchase of the electric locomotives, technical maintenance, and supply of spare parts for at…
Swedish telecommunications technology company Ericsson plans to build a new manufacturing and technology facility in Estonia’s capital city of Tallinn, ERR reports. The company will invest EUR 155mn in the production centre in Tallinn’s Ülemiste City business park. Construction work is due to be completed by 2026. The facility will house testing laboratories, production lines,…
Several growth companies on Estonia’s Tallinn Stock Exchange (Nasdaq Tallinn), including Clevon, ELMO Rent, and Hagen Bikes, saw significant losses in 2022, ERR reports. ELMO Rent’s annual turnover was only half of the forecasted amount, resulting in losses that were more than double the expectations. Despite the declining share prices and growing panic among shareholders,…
Lithuania’s foreign direct investment (FDI) development agency, Invest Lithuania (Investuok Lietuvoje), approved 26 FDI projects in the first half of 2023, LRT reports. The agency reported that 12 new foreign companies have announced investments in Lithuania, and 14 foreign firms already operating in Lithuania plan to expand. The investment projects are expected to create more…
Lithuania’s state-owned energy group, Ignitis Grupe, will invest EUR 25mn in energy and climate change startups over ten years through Germany’s World Fund, Baltic News Network reports. The group has signed an investment management agreement with WF World Fund Management. Earlier, Ignitis Grupe announced that World Fund would manage the group’s second venture capital fund….