Publication of Lemminkäinen Corporation's Financial Statements bulletin for the year 2017
- Investor News
- 11/15/2007
Lemcon proceeds with its 135-hectare industrial park project in Russia
LEMMINKÄINEN CORPORATION PRESS RELEASE 15.11.2007, 13.00 Lemminkäinen Group's Lemcon Ltd is proceeding with its Kaluga industrial park project in Russia. On 15 November 2007 the company signed an investment and co-operation agreement with the Kaluga provincial authorities. The signing ceremony was held in Helsinki in connection with the Finno-Russian Partnership Forum organised
LEMMINKÄINEN CORPORATION PRESS RELEASE 15.11.2007, 13.00 Lemminkäinen Group's Lemcon Ltd is proceeding with its Kaluga industrial park project in Russia. On 15 November 2007 the company signed an investment and co-operation agreement with the Kaluga provincial authorities. The signing ceremony was held in Helsinki in connection with the Finno-Russian Partnership Forum organised by Sitra, the Finnish Innovation Fund. The industrial park will be built on a 135-hectare site in the town of Vorotynsk, which is located 200 kilometres southwest of Moscow. Twenty or so production plants and logistics centres with a gross floor area totalling some 500,000 square metres will be built in the industrial park over the next few years. Companies are being actively encouraged to set up in Kaluga by means of tax reliefs and other incentives. The price of electrical energy in the province is also extremely competitive. The companies that have already set up in Kaluga include Stora Enso Packaging, Volkswagen, Volvo Trucks, Nestle, Lafarge and Samsung. Lemcon's business idea is to offer Western companies investing in Russia a fast and low-risk way to establish themselves in Russia's growing markets. “As issues relating to land procurement and infrastructure have been worked out for our clients in advance, we can concentrate on implementing their investments quickly as Western-style contracts,” states Lemcon's Managing Director, Mr. Matti A. Mantere. ”We spent a long time studying alternative sites in Central Russia. Kaluga emerged as the clear winner due to its investment-friendly business climate, good availability of skilled labour, and excellent communications,” adds Mr. Mantere. Additional information: President Matti A. Mantere Lemcon Ltd Tel. +358 400 407 608 matti.mantere@lemcon.fi Vice President Juha Höyhtyä Lemcon Ltd Tel. +358 40 537 5032 juha.hoyhtya@lemcon.fi Project Development Manager Dmitry Abakumov Lemcon Ltd Tel. +358 400 341 419 dmitry.abakumov@lemcon.fi Lemcon Ltd, Lemminkäinen Group's international project contractor, derives about a half of its business from abroad. In Finland the company focuses on demanding infrastructure contracts and project management contracting. In addition to its operations in Europe, the company serves as a project and telecoms network contractor in the Americas and Asia. Lemminkäinen Group operates in all areas of the construction sector. Its main business areas are building contracting, infrastructure construction, technical building services, and building products. Net sales in 2006 were EUR 1.8 billion, of which international operations accounted for about a third. The Group employs some 9,000 people. Lemminkäinen's share is listed on Helsinki Stock Exchange.