Nordea is financing one of the biggest project in the Free Economic Zone of Klaipėda

The largest finance group in the Nordic and Baltic region, Nordea, Germany's finance group Kfw, and its division DEG will provide a syndicated loan of EUR 52.5 million to "Orion Global PET" for the construction of PET resin plant in the Free Economic Zone of Klaipėda.

The project will be developed by Orion Global PET a company of Indorama Group. The total value of the project is EUR 86 million. The number of the employees should reach 120.

"The port of Klaipėda, Lithuania as a member of EU and the skills of local personnel are the key factors which helped us to make a decision to invest in Lithuania," said Mr. A.K. Choudhry, CEO of "Orion Global PET".

"This is a truly remarkable green field investment project. It is a honor for Nordea to take part in that process. We hope that the project will be an extra fuel for the engine of region's economy and it will be an inspiring example for the investors from all over the world," admitted Steen T. Nielsen, general manager of Nordea Bank Lietuva.

Indorama has started its activities in 1947 in India. At that time it was a textile company but the business expanded rapidly and today's Indorama group is one of the major players in the markets of polyester based raw materials, PET resin and fabrics.