The FINANCIAL -- NIB and Lidl Suomi Ky have signed a loan agreement of EUR 70 million to finance the construction of a new warehouse in Järvenpää and investments in new Lidl stores in Finland.
The ten-year maturity loan will co-fund Lidl’s new warehouse in Järvenpää, Finland, which will significantly increase the discounter’s storage capacity, according to NIB.
The Järvenpää warehouse will be certified in accordance with the “Excellent” standard under the BREEAM certification method for environmental buildings, and will be equipped with solar panels and an advanced automation system for cooling and heating.
Further, as part of its expansion strategy, Lidl is planning to open up to ten new stores in Finland during 2017.
Lidl is an international discount supermarket chain with approximately 10,000 stores in 27 European countries. In Finland, Lidl currently operates over 160 branches and employs about 5,200 people. The chain is part of the Germany-based Schwarz Group.