07.07.2005, Valmieras stikla šķiedra, RIG

JSC Valmieras stikla šķiedra                        July 7, 2005



Support from Evaluation Commission for Promotable Investment Projects received



Yesterday, on July 6, the Evaluation Commission for Promotable 

Investment Projects at the Ministry of Economic Affairs reviewed and 

supported JSC's Valmieras stikla šķiedra application for award of 

the status of a promotable investment project.



JSC Valmieras stikla šķiedra asks to award this status for its project 

of building a new glass fibre plant; the decision as to its realisation 

was taken in April this year by the Supervisory Council.



Being awarded the status of a promotable investment project would secure

income tax relief for the JSC for a period of 10 year after implementation

of the investment project.



The support from the Evaluation Commission for Promotable Investment 

Projects is only a first step towards the final resolution concerning 

the award of real support, which will be resolved on by the European 

Commission. 

For the time being, the application of JSC Valmieras stikla šķiedra is 

forwarded for examination by Government of the Republic of Latvia.







JSC Valmieras stikla šķiedra

Assistant to the Board

Lauma Kugrēna

Phone +371 4202222

      +371 6441429

Fax   +371 4281216

laumak@vss.lv