COBALT advised Latvijas Finieris on the launching of the most extensive investment project in Latgale in recent years

The management of Latvijas Finieris, a key plywood producer in the region, has decided to launch an expansion project of RSEZ SIA Verems, Latvijas Finieris Group, in Rezekne district. The expected amount of investment exceeds 67 million euros 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 m2.

Evaluating the sustainability of the project, it is also supported by the Latvian state. On July 12, Latvijas Finieris received approval for the granting of 10 million euros in financing from the loan program “Investment loans for large and medium-size companies with a capital discount for the promotion of competitiveness” implemented by the Latvian Investment and Development Agency (LIAA) and Development Finance Institution Altum.

COBALT Partner Gatis Flinters and Senior Associate Toms Krūmiņš advised Latvijas Finieris on the operation of group of companies and fulfilment of LIAA and Altum loan program criteria.