Northtown Vilnius signed a loan agreement for the construction of the VCIIP Technology Development Centre

The Operator of the Vilnius City Innovation Industrial Park (VCIIP) Northtown Vilnius signed an agreement with the Public Investment Development Agency regarding a 9,500,000 Eur loan for the construction of the VCIIP Technology Development Centre.

The planned building will be adapted for scientific research and applied activities. Most of the building’s area will be occupied by specialised life sciences laboratories, and office premises will be established in the remaining part of the building. The construction is to start in March 2023 and the expected end of construction is the 4th quarter of 2024.

“This Technology Development Centre is a very important part of the ecosystem of Vilnius City Innovation Industrial Park. It will give VCIIP the opportunity not only to attract sustainable companies operating in the field of life sciences and create physical conditions for the faster development of innovations and technologies developed by them but also to strengthen the networking opportunities of the companies of the life sciences industry developed in the park”, – says Dr. Gediminas Pauliukevičius.

G. Pauliukevičius also emphasises that for Lithuania, which has named the strengthening of the life sciences industry as a strategic direction of activity, the development of infrastructure is vital and contributes to increasing the growth rates of priority industries.

The full value of the project under development reaches more than 10 million Eur. 9,500,000 Eur of which will be loaned funds of the incentive financial measure “Establishment of buildings for typical production purposes in free economic zones, industrial parks and other industrial territories”.