Thu, 26 Nov 1998: Summed up…



Arvydas Salda, director general of the FEZ's development center, said permission to start construction has already been received, and a land rent contract has been signed with the Klaipeda district. Penninox investments in Klaipeda FEZ might reach $32 million in the first stage and increase to $50 million in total. The plant could employ about 300 people. EFFECTS OF RUSSIAN CRISIS FELT MORE IN OCTOBER: More Latvian companies shut down due to the Russian economic crisis in the second half of October. State Revenues Minister Aija Poca told reporters 41 companies had closed and 112 had partially halted operation by Nov. 1. In mid-October, only 27 firms shut their doors, and 96 stopped half of their conveyor lines. Poca said during the last two... Read the rest of this entry »

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