Electronics industrial park to be built in Krasnodar for 1 bln rubles

KRASNODAR. July 5 (Interfax) - Krasnodar-based NIC Technologies LLC is investing 1 billion rubles in the construction of an industrial park in the city to manufacture radio electronics, the regional administration reported.

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

"The investor will expand and develop the radio electronics component base, create an import substitution center for production of domestic video recorders, video surveillance cameras and components. I expect that the first industrial and technology park in the Kuban will become the flagship one in Russia," Governor Veniamin Kondratyev was quoted as saying in the press release.

The launch of production is expected to create 2,000 jobs in Krasnodar.

It was reported earlier that NIC Technologies is prepared to completely cover the domestic market's needs for video surveillance systems. The company's executive director, Pavel Galitsky said at a meeting with the governor in March 2022 that NIC Technologies expects demand for its products to increase following the departure of a number of foreign companies from Russia.

NIC Technologies specializes in developing and manufacturing electronic equipment, the company's website said. It makes digital surveillance cameras, video recorders and associated products for comprehensive video surveillance systems. The company has a complete production chain, including an engineering division and production lines, and its solutions are included in the Russian Industry and Trade Ministry's registry of domestic radio electronic products, the Krasnodar administration said.

NIC Technologies, which was incorporated in Krasnodar in 2019, closed 2021 with a net profit of 3.5 million rubles on revenue of almost 380 million rubles, the SPARK-Interfax system showed. The company is 51% owned by electrical installation company Telekom Montazh Yug LLC (revenue of 3.2 billion rubles in 2021) and 49% by home electronics wholesaler PSB Global LLC, according to data as of July 4, 2022.