Moscow battery distributor to build 1-bln-ruble plant in Krasnodar Territory

KRASNODAR. July 5 (Interfax) - Moscow-based battery distributor AB Batteries plans to build a battery plant in Krasnodar Territory at a cost of 1 billion rubles, the regional administration said.

The region's leadership and the company signed an agreement on this at the Innoprom international exhibition on Monday.

The company plans to launch two lines to manufacture AA and AAA batteries, each producing more than 230 million units annually.

"The level of dependence on imported batteries in Russia is currently more than 80%. The launch of such a production facility in our region will make it possible to reduce the shortfall and provide the district with 150 new jobs," Krasnodar Deputy Governor Alexander Ruppel was quoted as saying in the press release.

AB Batteries, which began operations in 1994, is a wholesale distributor of batteries in Russia and other CIS countries, the company's website said.

AB Batteries closed 2021 with a net profit of 17.943 million rubles on revenue of 344.66 million rubles. The company's sole owner as of July 4, 2022 is its CEO Andrei Bondarenko, the Unified State Register of Legal Entities showed.