Austrian wood-based panels manufacturer Kronospan is breaking the grounds to build an OSB plant in Poland, adding another to the seven that already exist in the country. Plans are to also set up an R&D center to serve its operations in a number of East European markets. The operation located in the Katowicka special economic zone is expected to create at least 200 jobs and launch operation in 2015, wbpionline.com reports. 29% of the PLN 432 million (€ 101 million) investment will be financed by the EU’s Regional Development Fund.
After Kronospan has signed the deal with the Polish Ministry of Economy in August 2013, the company now takes advantage of the fresh economic breeze in Poland with a GDP expected to increase to a robust 3.5% by 2018. What is more, the Polish government has decided last summer to extend the tax exemption on revenues generated in the Katowicka special economic zone until 2026.
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