Tatarstan President lays the cornerstone of 3M Volga factory in Yelabuga

The enterprise to produce materials for oil and gas industry, car manufacturing and construction.

Today, Rustam Minnikhanov, President of Tatarstan, took part in laying the cornerstone of 3M Volga factory in Yelabuga.

"Today, we are launching an important project as this factory's produce will be in high demand on Russian market. Or goal is to provide good conditions for construction, staffing and distribution. I would like to assure our investors that we will support their work in every way," - said Rustam Minnikhanov.

"The arrival of an investor such as 3M shows trust in Russia, the republic and Alabuga special economic zone. I hope it will be a mutually profitable collaboration," - pointed out Oleg Savelyev, Deputy Economic Development Minister of Russian Federation.

The new 3M Volga enterprise will produce materials for oil and gas industry, car manufacturing and construction as well as industrial duct tape and sealants. The enterprise will feature a cyclical turnaround: applying adhesive solutions to tape, cutting and recycling.

According to plan, the factory will launch in Q3, 2014, and employ 100 people. "As the factory grows, we plan to take on more staff," - stated Timothy Allen Kenig, DG of 3M Volga.

The company has become the 35th resident of Alabuga special economic zone.