EUR 9.5 million VIPA’s loan for a new biotechnology R&D building in Vilnius
VIPA has signed the loan agreement under the promotional financial instrument “Installation of typical production buildings in free economic zones, industrial parks and other industrial areas”. The loan was granted to VšĮ Northtown Vilnius – Vilnius City Innovation Industrial Park operator developing a unique and innovative R&D investment space.
The value of the project developed by Northtown Vilnius amounts to more than EUR 10 million, of which VIPA’s loan accounts for EUR 9,500,000. The envisaged project consists of the construction of a new building of 4,400 m2 for research purposes and the land plot management works. At least 90 % of the building will be used for laboratories and the remaining part – by offices.
“We pay particular attention to businesses that create high added value and we rank biotechnology as one of our priority sectors. In Lithuania, we can now fit out standard multi-purpose buildings adapted for production and research, where new investors can move in quickly. It gives our country an even stronger competitive edge in attracting international investors and developing local businesses,” said Aušrinė Armonaitė, Minister of the Economy and Innovation.
The building will be adapted for science, research and development activities. The investor will be offered a fully equipped building infrastructure and will be able to start carrying out activities with own equipment from the first day of investment.
“The new project will contribute to the development of Lithuania’s innovation ecosystem and will provide biotechnology businesses with modern infrastructure required for their establishment and growth. This is the first biotechnology R&D building financed by VIPA,” says Asta Gladkauskienė, VIPA Customer Service Department Head.
The technical design has already been worked out and the building permit has been issued for the construction of the research building at Vismaliukų g. 34, Vilnius. The detailed design according to which construction operations will be purchased is under preparation now. The construction of the building is planned to start in March 2023 and to be completed in Q4 2024.
The decision to develop a new research building project was based on the prevailing high market demand for the lease and acquisition of research buildings, in particular of large floor area with high cleanliness class laboratories. In addition, the developed infrastructure of the Innovation Industrial Park, its proximity to existing research and business entities and the possible package of other services will create additional benefits and attractiveness for potential newcomers.
“This Technology Development Centre is a very important part of the ecosystem of Vilnius City Innovation Industrial Park (VCIIP). It will not only enable the VCIIP to attract sustainable businesses active in the life sciences field and create material conditions for faster development of their innovations and technologies, but will also strengthen the life sciences industry companies’ networking opportunities that are being developed in the Innovation Park,” says Dr. Gediminas Pauliukevičius, Head of VCIIP Operator Northtown Vilnius. He further notes that for Lithuania, which has placed a strategic priority on the strengthening of the life sciences industry, the development of such infrastructure partially prepared for the establishment of innovative companies is vital and effectively contributes to boosting the growth rates of priority industries.
The first project of EUR 6 million is being implemented in Klaipėda
The project of VšĮ Northtown Vilnius is the second project implemented under VIPA’s instrument “Installation of typical production buildings in free economic zones, industrial parks and other industrial areas”. The first loan agreement was signed with UAB Flex Start Two, a subsidiary of Klaipėda Free Economic Zone Management Company constructing four blocked industrial buildings with the accompanying infrastructure in Klaipėda Free Economic Zone (FEZ). The value of the project under development in Klaipėda FEZ exceeds EUR 6 million with VIPA’s loan accounting for EUR 4.88 million of this amount.
The eligible expenditure under the instrument comprises the new construction or reconstruction of a typical production building, including the pre-construction costs (preparation of the technical design of the building, obtaining the building permit), the land plot management, the infrastructure and engineering networks on the land plot, the installation and/or management of engineering systems in the building, the technical supervision of its construction, and the supervision of the project implementation.
Long-term preferential loans up to 180 months (15 years) for up to EUR 10 million are granted to free economic zone management companies, their subsidiaries, industrial park operators (excluding natural persons) and municipalities.
