# NEO Group launches new PET production line with €50M investment

NEO Group has launched a new production line for PET granules at its Klaipeda Free Economic Zone facility in Lithuania, with a €50 million investment. The expansion increases production capacity by 50% and creates 35 new jobs.

- Type: Expansion
- Announced: 2018-07-25
- Where: Klaipeda Free Economic Zone, Lithuania, Lithuania
- Value: $58.0M (50.0M EUR)
- Jobs: 35
- Status: completed
- Capacity: 155,000 tonnes per year
- Products: polyethylene terephthalate granules
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Neo](https://endata.com/companies/15890.md)

## Sources

- [investlithuania.com](https://investlithuania.com/news/with-e50-m-eur-investment-neo-group-will-become-the-second-largest-pet-producer-in-europe/), 2018-07-25: "With the expansion of production capacity, the company has become the second-largest company of this kind in Europe."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.