VILNIUS. Oct 21 (Interfax/BNS) – Lithuanian company Neo Group, owned by Ukrainian group Retal Industries, plans to invest nearly EUR50 million in building a plant for to produce granulated polyethylene terephthalate (PET) in the Klaipeda Free Economic Zone, according to the Lithuanian business newspaper Verslo zinios.
The new plant, which will be located adjacent to the existing enterprise of Neo Group, will have a production line with an annual capacity of 160,000 tonnes of granulated PET.
The plant is to be commissioned in late 2017 or early 2018.
Companies using granulated PET for the production of various types of packaging for consumer products work near the Neo Group plant in Klaipeda.
Retal Industries unites companies in Lithuania, the Czech Republic, Russia, France, Italy, Ukraine and several other countries. According to the Ukrainian state register of legal entities, the beneficiary of Retal Industries is businessman Anatoliy Martynov.
Retal Group is engaged in the production of PET performs, film, and LDPE caps.