Lack of hotel, theater holding back Narva development, says industry captain (6)

The Kreenholm textile factory in Narva (Siim Lõvi/ERR)
8/25/2015 10:44 AM
Category: Economy

CEO of metal component producer Fortaco Lars Hellberg says he wants to expand in Narva, but Estonia's third largest city needs a modern hotel and a theater-house to attract investors.

Fortaco currently employes 370 people in Narva and is looking to add 200 jobs, but attracting investors is hard as the city is in a dire state, he told Delfi.

The company owns a number of great locations and real estate in the city, which are currently unused, and could be offered to potential investors for a hotel and theater construction. “Our aim is to attract more companies, investments and finally people. For example, it is very difficult to attract engineers to Narva from the rest of Estonia, let alone from abroad,” Hellberg said.

He said he has worked in 28 states, including in Russia and China, but Narva is the most depressing place he has worked in.

Things are moving, albeit slowly. Hellberg said they do have a few candidates for an international hotel on one of their properties and the Foundation Vaba Lava, which has built a theater complex in Tallinn free to use by any theater group, is also aiming to expand to Narva, and are currently waiting for a financial green light from the culture ministry.

J.M. Laats

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