Industrial park for high-tech equipment to be built in Amur with Chinese investment of 10 bln rubles

MOSCOW. Sept 6 (Interfax) - Amur FEDC, a subsidiary of Russia's Far East and Arctic Development Corporation (FEDC) has reached an agreement with China's Xuan Yuan to build an industrial park to manufacture high-tech equipment in the international priority development area (PDA) in Amur Region, the FEDC said.

Investment in the project is expected to exceed 10 billion rubles.

The letter of intent to implement the project was signed by Amur FEDC director Irina Volkova and Xuan Yuan executive president Xue Hailong at the Eastern Economic Forum in Vladivostok.

"The construction of the industrial park for manufacturing high-tech equipment is planned at the Rovnoye investment site within the PDA. The preferential regime will begin in 2025 and provide residents with the most favourable conditions for implementing projects with high added value," Volkova said in the press release.

She said a plot of land has already been selected for the park and the investor has registered a company in Amur Region. The paperwork for obtaining resident status is now being prepared.

"The products and services that will be manufactured and provided in the industrial park are extremely needed right now. This is laser equipment, robots, high quality bearings, composite materials, smart elevators, intelligent control systems and 3D printing. The support of the PDA regime will enable us to implement the project in a shorter period of time," Xue Hailong was quoted as saying.