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Lithuania Smelter (Smelting Plant) Industry Analysis
The smelters/smelting plants construction projects industry in Lithuania has been growing steadily in recent years. This industry involves the construction of facilities that process raw materials, such as ores and metals, to create finished products that are used in various industries.
Currently, there are several smelters/smelting plants construction projects underway in Lithuania, with the biggest being the construction of the new ferrochrome production plant in the city of Klaipeda. The plant, which is expected to become operational in 2022, is being built by the Finnish company Outokumpu and is expected to produce up to 430,000 tons of ferrochrome per year.
In addition to the ferrochrome plant, there are also plans to build a new lithium-ion battery factory in the country, which is expected to help meet the growing demand for electric vehicles in Europe. The construction of this factory is being led by the Chinese company Contemporary Amperex Technology (CATL) and is expected to begin in 2022.
The outlook for the smelters/smelting plants construction projects industry in Lithuania is positive, as the country's government is actively seeking to attract foreign investment in this sector. Lithuania has a well-educated workforce and a strategic location, which makes it an attractive destination for companies looking to expand their operations in Europe. The Lithuanian government is also offering various incentives to companies that invest in the country, such as tax breaks and grants.
Furthermore, Lithuania is a member of the European Union, which provides access to a large market and various funding opportunities. The EU's Green Deal initiative, which aims to make Europe carbon neutral by 2050, is also expected to drive demand for smelters/smelting plants that use renewable energy sources.
In conclusion, the smelters/smelting plants construction projects industry in Lithuania is poised for growth in the coming years. With several major projects underway and the government's commitment to attracting foreign investment, Lithuania is well-positioned to become a key player in this industry in Europe.
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