Lithuania Backs Visaginas Free Economic Zone

Lithuania’s government has approved draft legislation to establish a free economic zone in Visaginas, opening the way for new industrial investment near the former Ignalina nuclear power plant.

The proposed zone would cover more than 223 hectares, including land near the nuclear plant, its former service facilities and a former military site. Existing roads, rail links and energy infrastructure could be adapted for new industrial projects.

Preliminary estimates suggest that the zone could attract up to €411.6 million in investment, accommodate as many as 20 companies and create up to 4,000 jobs. These figures are projections based on the experience of other Lithuanian free economic zones, not confirmed investment commitments.

The government sees potential for technology-intensive industries, including industrial automation, robotics and data centres.

The draft law provides for a 49-year operating period, with entry into force proposed for 1 July 2028. Parliamentary approval is still required, followed by the definition of the zone’s boundaries and an international competition to select its developers.