20 Jan 2018 10:40

Ingushetia to build 2nd Japanese tire factory in country after Ulyanovsk one

MAGAS. Jan 20 (Interfax) - The authorities of Ingushetia have decided to build a factory manufacturing Japanese tires in the republic in a manner similar to the production launched in Ulyanovsk in 2017, for the first time in the country and the CIS, the region's head Yunus-Bek Yevkurov told Interfax.

"Ingushetia will use the Ulyanovsk region's experience in investment cooperation with Japan and opening a factory producing Japanese tires," Yevkurov said.

The Ulyanovsk region has extensive experience in attracting investments, the Ingushetia leader said.

"Revenue-generating plants and factories have been built and are being actively built using funds from investors in the region. One of them is the factory producing tires for Japan's Bridgestone Corporation which opened in Ulyanovsk in 2017 and became the first one in Russia and the CIS," he said.

The Ingush authorities decided to launch a similar production in the republic with Japanese investments.

"It would be a strategic breakthrough for the small republic. We have discussed this matter with our Ulyanovsk colleagues and our experts are currently working on this project," Yevkurov said.

Ingushetia will take practical steps to attract Japanese investors for the first time this year, the republic's Economic Development Minister Umalat Torshkhoyev told Interfax. A package of investment proposals will be developed in the first quarter of 2018, negotiation of a program for Ingush entrepreneurs' visit to Japan is expected in the second quarter of the year, and the official visit itself of a substantial delegation of Ingushetia to Japan is scheduled for the third one, he said.