Grodnoinvest registers first Belarusian-Latvian company

The first company-resident with Belarusian-Latvian capital has been registered in the Grodnoinvest Free Economic Zone. BelEuropaket Joint Venture will produce paper and polymer packaging, said Dmitry Rozhkov, head of the economic development department of the Grodnoinvest Administration. 

The total investments in the project will make up €1.34 million. The new enterprise will manufacture paper bags for food and nonfood goods and also paper, cardboard and polymer roll products. 

The Grodno-based enterprise will become a filial branch of a Latvian company. 

The production equipment is expected to be transported to Grodno in July and in Q3 this year, the enterprise will start to produce products. BelEuropaket is expected to produce no less than 76 million paper bags, 210 tonnes of roll products and 60 tonnes of polymer products a year.