$250 million worth investment project A project of construction of a cold rolled sheet products plant has been approved
On March 12, at a meeting held by Tatarstan President Rustam Minnikhanov, the Supervisory Board of the Special Economic Zone approved the project on the construction of a plant for producing cold-rolled flat products at the Alabuga Special Economic Zone. The event was attended by the Minister of Economy of the Republic of Tatarstan Farid Abdulganiev. The total investment cost of the project amounts to 250 million US dollars.
Opening the first meeting of the Supervisory Board in 2018, Tatarstan President noted that there are 56 residents of the Alaguba Special Economic Zone, 23 productions with over 6,000 employees are operating. Revenue of residents made 76 billion roubles in 2017. “I think, this is the result of major efforts,” Minnikhanov noted.
Gemont Metal Company applied for the status of resident of the Alabuga Special Economic Zone whose cold-rolled flat production complex is planned to be commissioned in the third quarter of 2020.
In the first stage, 770,000 tons of cold-rolled and tempered, galvanized painted sheet products will be produced in the complex with the total area of over 40,000 square meters of enclosed room. The annual capacity of the complex is planned to increase to 1,250,000 tons per year in the future.
Finished products will be used in many areas, such as the production of electronic household appliances, car industry, the installation of roof covering, manufacturing of pipelines. The complex will be built with the use of the most advanced technologies and will employ 320 people.
Director General of the Alabuga Special Economic Zone Timur Shagivaleev said that all issues with allocation of land infrastructure for the new resident have been resolved. By the launch of production, new branch of railway to the station will be built.
Summing up the meeting, members of the Supervisory Board voted for the approval of a new resident of the Alabuga Special Economic Zone.