Medal Glass, a subsidiary of the German group Medal Holding GmbH, became a resident of the Balti Free Economic Zone (FEZ) and will implement there a large investment project worth 160 million euros.
According to the report of the administration of the Balti FEZ, in particular, according to the presented business plan, Medal Glass will launch in Moldova one of the most ambitious investment projects for the construction and equipping of a plant for the production and processing of sheet glass according to the technology of HORN® Corporation. The cost of investment in the future sheet glass plant is estimated at 160 million euros, with a potential production capacity of about 600 tons of finished products per day. In addition to significantly increasing the country's export potential and solving socio-economic problems by creating at least 450 new direct jobs at the first stage, this project will cause a synergetic effect on the development of related industries, connecting at least 8 more suppliers and creating 2500 indirect jobs. In this regard, Balti FEZ sincerely thanks the Ambassador of Kazakhstan in Moldova Almat Aidarbekov who was the one that made possible the attraction of this investor. Medal Holding GmbH has extensive experience in the design, construction and management of large plants for the production of various glass products. The latest successful project is one of the largest in Central Asia, in the Kyzylorda region of Kazakhstan, called the Orda Glass Plant - Orda Glass. The EPCM project was completed in 2022 and started producing 600 tons of glass per day. The Medal Group (formerly Kurt Wiegand Gruppe) has a history of more than 50 years. The founder of the group, Dr. Kurt Wiegand, established the family firm Kurt Wiegand GmbH in 1971. In 3 decades the company has become a serious player in the real estate market of Frankfurt am Main and the entire 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 area of the group is the hotel business. Major projects include the launch and management of dozens of hotels from Sheraton, Hilton, Marriott, Intercontinental, B&B, NH and many others. // 28.12.2023 – InfoMarket
