Broad Coalition for the Genthin Chemical Park signs LOI to form a special-purpose association in Genthin, Saxony-Anhalt; foundation for future infrastructure governance.
Broad Coalition for the Genthin Chemical Park: Investieren in Sachsen-Anhalt
Broad Coalition for the Genthin Chemical Park
An important milestone has been reached for the future development of the Genthin Chemical Park: Three companies at the site involved in the process, as well as the four participating municipalities, have signed a letter of intent (LOI) regarding the planned establishment of a special-purpose association. During a meeting at the Saxony-Anhalt Ministry of Economics, Tourism, Agriculture, and Forestry, representatives of the participating municipalities and companies briefed State Secretary Stefanie Pötzsch on the current status of the project and the next steps. By signing the LOI, the participating partners are, for the first time, jointly documenting their fundamental willingness to consolidate the future organization and safeguarding of the transportation and utility infrastructure necessary for the Genthin Chemical Park within a special-purpose association. The LOI thus creates a common foundation for further cooperation and the next steps toward establishing the special-purpose association. “I greatly appreciate the commitment of the local companies and municipalities and the excellent cooperation. When all stakeholders take responsibility and pool their expertise, this strengthens the Genthin Chemical Park as the ‘Chemical Park of Northern Saxony-Anhalt’ and creates reliable structures for its further development,” said State Secretary Stefanie Pötzsch. With its current workforce of around 500 employees, the chemical park is one of the most important industrial and economic hubs for Genthin and the Jerichower Land region. A reliable infrastructure is an essential prerequisite for securing existing businesses and jobs at the site while also creating opportunities for further investment and the establishment of new businesses. The parties involved emphasize this in the letter of intent. Formal decisions are still pending The signing of the letter of intent does not yet formally establish the special-purpose association. In the next step, the relevant municipal bodies must pass the necessary resolutions. Only after these decisions have been made and the required municipal and administrative procedures have been completed can the special-purpose association actually be established. “With this letter of intent, we have taken an important step toward further cooperation. Now it is time to prepare the necessary resolutions in the relevant bodies and to consistently continue the process we have begun. Our common goal is a legally sound, economically viable, and sustainable solution for the infrastructure of the Genthin Chemical Park,” said District Administrator Steffen Burchhardt.
Source: Ministry of Economic Affairs, Tourism, Agriculture, and Forestry