Estonia, 2016-10-21 12:52 CEST (GLOBE NEWSWIRE) -- On 21 October, in Allika Industrial Park, located in Saku Rural Municipality on the border of Tallinn, the cornerstone was laid to two important buildings: the production and storage facilities of HE and the production and storage building of Stera Group, the commercial producer of mechanical and electromechanical devices and components. In total, 12,700 m2 of floor area for various purposes will be constructed.

The construction of the buildings was commissioned by AS Harju Elekter, the planner was OÜ Architec and the project and construction manager is AS Rand ja Tuulberg. The sites will be completed and ready to be delivered to the lessees in the first half of 2017.

The volume of the investments is 8.2 million euros, which is covered with self-financing and a bank loan.

Allika Industrial Park is well connected to Tallinn Ring Road and Via Baltica, as well as the ports of Tallinn and Paldiski, and is becoming an increasingly important employer to the residents of the Õismäe and Astangu sub-districts and the rural municipalities of Harku and Saue.

Harju Elekter is the leading MV/LV electrical and engineering devices producer in the Baltic countries as well as well-known and respected company in Scandinavia. Harju Elekter Group includes manufacturers of electrical equipment in Estonia, Finland and Lithuania: AS Harju Elekter Elektrotehnika (100%), Satmatic Oy (100%), Finnkumu Oy (100%) and Rifas UAB (100%), as well as the telecommunications products manufacturer AS Harju Elekter Teletehnika (100%) in Estonia and recentely purchased real estate holding company Harju Elekter Kiinteistöt Oy (100%).

In addition, AS Harju Elekter has financial investments in the Latvian electrical equipment sales company SIA Energokomplekss (14%), Estonian ultra-capacitors developer and manufacturer Skeleton Technologies Group OÜ (10%) and in the Finnish publicly listed company PKC Group Oyj (5%).

Andres Allikmäe
Managing Director/CEO
+372 674 7400