SKS Estonia Textile, a Narva-based company, is investing more than €1.3 million to expand its product range. Approximately €470,000 of this sum will be financed by the EU Fair Transition Fund, the daily Põhjarannik writes.
The company, which employs over 100 people, plans to upgrade its technology to increase production capacity, product quality and variety, which would also allow it to enter new markets, the daily writes.
SKS Estonia Textile is part of the Swedish concern AB Svenskt Konstsilke and supplies customers in 30 countries with high quality yarn and rope, with the largest volumes being shipped to Sweden, Germany and the Netherlands.
Svetlana Petrova, the Narva branch executive director, said the new equipment adds 500 tons of production capacity and allows for new, environmentally friendly products. "More output requires more accurate planning and supervision and this is only possible if the control system is digitized, so we want to integrate new technology into our digital control systems," she said.
Estonia is set to receive €953 million in recovery funds, including €736 million from Just Transition Fund, which is aimed at supporting regions facing the most serious socioeconomic challenges due to the green transition; in Estonia, its chief target area is Ida-Viru County, where the scaling back of the oil shale sector threatens to leave hundreds of people jobless.
Editor: Kristina Kersa