Alabuga SEZ to form JV with Chinese SEZ, build infrastructure for Innokam
YELABUGA. July 6 (Interfax) - The Alabuga Special Economic Zone in Tatarstan plans to form a joint venture with a similar Chinese entity and build infrastructure for the Innokam cluster, Alabuga SEZ chief executive Timur Shagivaleyev said on Tuesday at a meeting to mark the zone's 10-year anniversary.
"We have made a decision, and it has been approved by the Economic Development Ministry of Russia and the Ministry of Commerce of China, to form a joint venture with the leading Chinese special economic zone. The Chinese will get prepared sites and infrastructure, and we'll get access to financing and, most importantly, new residents. At least 60 new residents and at least 100 billion rubles of new investment," Shagivaleyev said.
Investment in the infrastructure of the joint venture with China could total 10 billion rubles and the investment of residents could total 180 billion rubles, presentation materials state.
Investment in the infrastructure of Alabuga-2 will total an estimated 316 billion rubles. The project includes plans to refine 3.8 million tonnes of oil, and produce 600,000 tonnes of ethylene, 300,000 tonnes of polyethylene, 250,000 tonnes of polypropylene and 200,000 tonnes of polystyrene.
