EIMIN initiative accelerates implementation of Teltonika's strategic semiconductor factory project
Ministry of the Economy and Innovation has accelerated the procedures for the strategic investment project of the Lithuanian high-tech company, Teltonika: the construction of a semiconductor factory.
Today, the government approved the ministry's proposal to approve the general plan for the 14.82-hectare area near Svylos Street in Vilnius. This involves changing the purpose of the land required by Teltonika High-Tech Hill in the Liepkalnis high-tech park from public to industrial and storage use.
This change is another step towards increasing high-tech production, innovation and economic growth in Lithuania. This project will ensure Lithuania's technological advantage and reduce its dependence on imported chips. It will create thousands of highly skilled jobs and boost exports, thereby making a significant contribution to Lithuania's GDP growth," says Edvinas Grikšas, Minister of the Economy and Innovation.
Following the revision of the Vilnius City Municipality's general plan, a semiconductor and power module assembly plant, an electronics components manufacturing plant and an artificial intelligence data centre will be built in the area, which will acquire industrial and storage status.
Teltonika is a group of Lithuanian high-tech companies whose products are developed in Lithuania and exported to over 160 countries.