South Korea’s Samsung C&T has partnered with Latvian manufacturer Forta Pro to develop factories making prefabricated building parts.
Forta Pro has two factories employing 400 people in the cities of Jelgava and Ventspils that make elements for high-rise buildings.
Samsung’s investment is aimed at increasing the country’s production capacities, with cooperation from the Latvian government. In the future, other factories may be built outside the Baltic state.
Kaspars Rozkalns, the director general of Latvia’s Investment and Development Agency, said: “This is an example of how a relatively small company can establish successful cooperation with world-class market players at the global level. Forta Pro cooperation with Samsung C&T will certainly open up wider opportunities for other companies as well.”