Ikea secures land for €340m complex in Podlaskie
2010-01-21
Ikea, the Swedish
furniture retailer, announced that it has completed the acquisition of 100 hectares of land in the Orla district of the Podlaskie voivodship, where it plans to build a manufacturing complex to make high density fibreboards (HDF) and wooden furniture.
Construction work is expected to begin in the second quarter of this year, provided that all necessary permits are obtained on time. The value of the investment is estimated at €340m, one of the biggest foreign direct investment projects in Poland in recent years. The investor is Swedspan, Ikea’s manufacturing unit.
The project will be executed in two phases. First, Swedspan will invest €140m to build a lumber-mill and a factory of ultra-thin HDF boards, which will together employ 250 people. They are scheduled to come online in 2012. Subsequently, it will construct plants making HDF furniture (including kitchen items) as well as wooden chairs based on the raw material supplied by the lumber-mill. The facility will ultimately employ 2,000 people.
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