Latvijas Finieris evaluates Euro 300 million birch plywood plant in Latgale, Latvia

Latvijas Finieris is assessing the potential development of a new wood-based panel manufacturing plant in the Latgale region, with the project currently undergoing an in-depth feasibility study including analysis of economic viability, risks, financing opportunities, and long-term impact on the company and regional economy.

Jānis Ciems, Chairman of the Management Board, stated that the project would make a significant contribution to the regional economy, national security, and sustainability, with economic benefits potentially reaching up to 0.5% of Latvia’s GDP while reducing national greenhouse gas emissions by approximately 6%.

The company noted that the most important factor before a decision can be made is potential support from the Latvian government and the European Union to accelerate implementation of the capital-intensive project.

Discussions are taking place with potential stakeholders, with the evaluation including assessment of the project’s impact on the company’s development and Latvia’s economy as a whole.