December 20, 2024 in the history of the Latgale Special Economic Zone (Latgale SEZ) administration becomes a significant development indicator – the largest investment project ever with the high-tech company SIA “Light Guide Optics International” located in Līvāni is concluded.
SIA “Light Guide Optics International” plans to make investments in the amount of 33 million euros for the implementation of investment projects in the Latgale SEZ territory, in total, it is expected to create at least 35 new jobs.
From the end of 2024 to 2030, the company will implement a large-scale investment project “Increasing optical fiber production capacity” in the amount of EUR 33,000,000. Its goal is to increase optical fiber production capacity by building a new production building adjacent to the company's existing buildings, as well as by purchasing and installing new additional optical fiber pulling towers. It is predicted that in the coming years, the demand for the company's products will continue to grow rapidly, especially for its new products - medical catheters, as more and more vascular treatment procedures are performed worldwide with this new technology due to its good results.
The Līvāni company Lightguide is one of the world's leading companies in the design and production of silica optical fibers and fiber optic products. Currently, Lightguide is also among the fastest growing and most valuable companies in Latvia. The light energy-conducting fibers produced there are used in the production of minimally invasive medical instruments, as well as in the production of fiber bundles, which are further used by the world's leading developers and manufacturers of industrial and scientific equipment. The company exports more than 99.9% of its products to many countries around the world. The largest market shares are in Israel, Italy, the USA, France, Ireland, Germany, Singapore and Austria.
The company has been operating as part of the Latgale SEZ since 2018 and has so far implemented five investment projects to attract powerful investments. It should be noted that previously, in 2022, a large-scale investment project worth almost 25 million euros was concluded with SIA “Light Guide Optics International”, within the framework of which the premises were adapted to ensure the production process and the compliance of the site with the standards for the production of medical products, as well as new additional technical equipment was purchased.
Sergejs Maksimovs, Chairman of the Latgale Planning Region Development Council, admits: “SIA “Light Guide Optics International” is a high-tech company that undoubtedly proves itself as an active and reliable partner, making a significant contribution to the promotion of the economic growth of the entire Latgale region and the country. We are grateful to the company's professional team for such high achievements in creating technological innovations. Thanks to Lightguide, we can confidently say that Latgale is the Silicon Valley of Latvia.”
In turn, Jānis Lāčplēsis, Chairman of the Latgale SEZ Supervisory Committee, emphasizes that with the implementation of this project, a new stage has begun in the history of the Latgale SEZ. It can be said that currently a strong optoelectronics cluster has been formed in Latgale – the products of optical fiber and electronics manufacturers are in demand and are in leading positions in the world market.
“The Lightguide company shows us the potential of Latgale, what our people can do, and also opens new horizons for the growth of the entire Latgale region. We, the Latgale SEZ Board, are pleased to observe the growth of this capital company under the influence of the advantages created by the special economic zone,” summarizes J. Lāčplēsis.
For information on the requirements set out in the law that investments must meet when applying for SEZ direct tax benefits, as well as more detailed information on the operating rules of the Latgale SEZ and the documentation to be submitted, please contact the Latgale SEZ Board: e-mail: lsez@lpr.gov.lv, tel.: +371 26511047, www.lpr.gov.lv/lsez.
Additional information:
Latgale Special Economic Zone, tel. +371 26511047
