Vingės Logistika is planning to invest 12 million EUR at the Klaipeda Free Economic Zone.
Vingės Logistika, a logistics company, is planning to invest 12 million EUR into an expansion of its warehousing space in two plots of land at the Klaipeda Free Economic Zone. This decision was inspired by the needs of their existing clients and the trend of stopping inessential activities, observed in modern manufacturing.
Algimantas Buškis, the CEO of Vingės Logistika, says that the company’s shareholders have confirmed an initial agreement to this investment project, so a study of the project, including detailed calculations, are being carried out. The result of the study will decide the company’s approach going forward, either forcing it to split the projects into stages or allowing it to be realized in its entirety at the same time. The most ambitious plan, if it came to fruition, would expand Vingės Logistika’s warehousing space to almost 40,000 square meters from the 20,100 square meters the company has now.
The company is solving financing questions at the moment, looking at seeking help from banks or other investment companies. Vingės Logistika expects to lay the foundations for the new warehousing space in 2020, the search for a contractor will start soon.