Projects of two RSEZ enterprises will be co-financed from RSEZ Entrepreneurship Support Fund in 2016

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Projects of two RSEZ enterprises will be co-financed from RSEZ Entrepreneurship Support Fund in 2016

July 05, 2016

In open competition of Joint Municipal Institution “Rezekne Special Economic Zone Authority” for receiving funding from RSEZ Entrepreneurship Support Fund in 2016 projects of two RSEZ enterprises were supported.

Co-financing from RSEZ Entrepreneurship Support Fund will be granted to the project of producer of electrical distribution and control equipment “IRBIS Technology” RSEZ SIA, in scope of which it has been envisaged to increase the energy efficiency of the company through instalment of new light systems and heating circulation pumps. Meanwhile, the co-financing for the project of serial gas installations producer RSEZ “REDIUS” SIA from RSEZ Entrepreneurship Support Fund will be provided for start of serial production of high capacity gas and air burners.

Projects of RSEZ enterprises will be co-financed from RSEZ Entrepreneurship Support Fund special budget, in total amount of 11 852,80 euros. Intensity of the support for one project will not exceed 50 percent.
The aim of Fund is to promote and support RSEZ enterprises as well as to support the development of infrastructure in the territory of RSEZ. This year the priorities of RSEZ Entrepreneurship Support Fund project competition were increase of energy efficiency, improvement of work safety and raising productivity.

In total four applications for the project competition had been received. Evaluation of project applications has been made by RSEZ Entrepreneurship Commission, which had issued a recommendation on projects. Meanwhile the decision on granting the co-financing was taken by RSEZ Supervisory Board.