Tatarstan President holds meeting of Supervisory Board of Alabuga Special Economic Zone
On August 22, Tatarstan President Rustam Minnikhanov held a meeting of the Supervisory Board of Alabuga Special Economic Zone, which considered two investment projects with the total amount of 1.5 billion roubles.
Members of the Board approved project of Russian Wax Company as a new resident and agreed to increase investment of the Coskunoz Alabuga acting resident.
The project of the Russian Wax Company envisages the production facilities of polyethylene wax with a total capacity of up to 9522 tonnes per year. Polyethylene wax is a modern additive used in manufacturing of window profiles, masterbatch, polyester paints. The project is financed by the co-owner of the TECHNONICOL Corporation Igor Rybakov, who decided to personnally support the innovative project.
At the first stage, the total amount of investments of the project will be about 156.9 million roubles and the manufacturing facilities of the company have already been based at the module of the Synergy industrial park.
The Coskunoz Alabuga has been operating at the special economic zone since 2014, producing over 100 kinds of stamped products for Ford Explorer, Kuga, Transit, Fiesta and EcoSport cars, including aperture panels, hoods, roofs, as well as details for the Mercedes-Benz Sprinter car. The company also exports stamping parts of Ford Ecosport cars to the Ford plant in Romania.
At the meeting of the Supervisory Board, the company raised the issue of increasing the amount of investments in the business plan from 2.2 to 3.5 billion roubles and introducing new activities.