14 Feb 2024 09:35

Lipetsk special economic zone to expand for Amkodor farm machinery production

LIPETSK. Feb 14 (Interfax) - The area of the Lipetsk special economic zone (SEZ) will be expanded for Belarusian company Amkodor's project to manufacture farm machinery and towed equipment, Russian Deputy Prime Minister Yury Trutnev's press service reported.

The proposal to expand the SEZ was approved at a meeting of the interagency working group led by Trutnev.

"The expansion of the Lipetsk SEZ in Lipetsk Region is aimed at developing modern farm machinery manufacturing. The new area of the SEZ is being created on the territory of the former Lipetsk Tractor Plant, where Amkodor intends to localize production of towed equipment and farm machinery. The residents plan to create 2,500 jobs," the statement said.

It was reported earlier that Amkodor Lipetsk Tractor Plant LLC (Amkodor LTZ) plans to invest 32.4 billion rubles in setting up production of towed equipment and farm machinery in Lipetsk. The necessary infrastructure will be built with private money. The project will be carried out at the former tractor plant in Lipetsk, which still has optimal conditions for connecting infrastructure.

Revenue is expected to total 620.8 billion rubles by the end of 2033.

Amkodor plans to open the first restored shop at the plant in early 2024 to manufacture attached and towed equipment.

Amkodor LTZ was registered in Lipetsk on December 2, 2022 with charter capital of 200 million rubles, data from the Unified State Register of Legal Entities showed. JSC Russian Tractor (reorganized from the eponymous LLC in July 2023, initially founded in May 2022 with MIG KTZ LLC as the sole founder) owns 50% of the company, and Amkodor Bryansk LLC and Amkodor Center LLC each hold 25%.