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German company Medal Holding GmbH will implement a new investment project worth $160 million in the Balti FEZ and will build a glass foil factory there.

German company Medal Holding GmbH will implement a new investment project worth $160 million in the Balti FEZ and will build a glass foil factory there.

The administration of the Balti Free Economic Zone (FEZ) announced this, noting that this is stipulated by the cooperation agreement signed with the German company on September 28 within the Romanian-German business conference held in Berlin. The partnership is aimed at consolidating the trade and economic relations between Moldova and Germany, maximizing the development potential and increasing the efficiency of the industrial cooperation. According to the signed agreement, the German side is to design and build in one of the sub-zones of the Balti FEZ a factory for the production of glass foil according to the technology of the HORN Corporation (Germany). The cost of investments in the future plant is estimated at $160 million and the potential production capacity is planned to be at least 600 tons of finished products per day. As noted by the administration of Balti FEZ, the investment project of the Medal Group company is designed to give a new impetus to the development of the industry by increasing the export potential of the country and mitigating socio-economic problems, creating at least 450 new jobs at the first stage and providing a synergistic effect on the development of related industries. The administration of Balti FEZ undertook to ensure the availability of all technical conditions and engineering networks necessary for the successful implementation of the investment project. Medal Glass Ltd (resident of Moldova) along with Medal Holding GmbH (Medal group of companies) has extensive experience in designing, construction and management of large factories for the production of various glass products. The last successfully implemented project is one of the largest in Central Asia: Orda Glass factory was built in Kyzylorda region of Kazakhstan. The project was completed in 2022. The plant produces 600 tons of glass per day. Medal (former Kurt Wiegand Gruppe) is a group with more than 50 years of history. The founder of the group Kurt Wiegand founded the family firm Kurt Wiegand GmbH in 1971. For 3 decades the company has become a serious player in the real estate market of Frankfurt am Main and the entire German state of Hesse. The history of the company includes hundreds of successful projects in the field of real estate development, construction and management. A separate direction of the group is the hotel business. Major projects include opening and management of dozens of hotels Sheraton, Hilton, Marriott, InterContinental, B&B, NH and many others. // 28.09.2023 – InfoMarket

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