Economy ministry approves 10 new industrial SEZ projects
MOSCOW. Nov 25 (Interfax) - The Russian Economic Development Ministry's council on industry special economic zones (SEZ) approved applications from 10 SEZ resident companies for new projects worth 23 billion rubles, OJSC Special Economic Zones said in a press release.
The new residents plan to set up production in Lipetsk SEZ, Alabuga SEZ (Tatarstan), Titanium Valley SEZ (Sverdlovsk region) and Moglino SEZ (Pskov region).
"The biggest project in terms of investment is from LLC Lifan Automobiles Rus, the Russian plant of Chinese car manufacturer Lifan. It plans to build the first full-cycle plant in Russia in Lipetsk SEZ. Lifan is willing to invest $300 million in the project," the release says. OJSC SEZ told Interfax that the plant will produce 9 different models, including three sedans and 6 SUVs. A test consignment and the launch of projected capacity is planned for April 2017. The project is expected to pay for itself after seven years.
LLC Heliotechnics Sirius plans to organize solar panel production at Alabuga SEZ. The company plans to invest 5.6 billion rubles in the project.
Another major new resident will be LLC Mir Upakovki. It plans to set up a food packaging and plastic auto parts production plant in Alabuga SEZ. The project costs 4.06 billion rubles and should pay for itself after 10 years.
LLC Russky Instrument wants to produce aluminum and steel tools for carpentry, construction, plumbing and other trades at Lipetsk SEZ. Investment will be 1.4 billion rubles.
CJSC Basalt Materials Plant wants to set up production of basalt fiber with 5000 tonne annual capacity and an engineering center to develop basalt technology at Titanium Valley SEZ. Investment will be around 1 billion rubles.