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Industry Development Fund invests a quarter of its capital in import-substituting production

10 July 2015 Expert Council of the Industry Development Fund of the Ministry of Industry and Trade has approved loans totalling more than 1 billion roubles for the creation of four import substitution industries. Project implementation will allow to attract in the real sector of Russia's economy more than 1.5 billion roubles. The total cost of 4 new projects is more than 2.2 billion roubles.

"We see that the middle-sized manufacturing companies are ready to offer the market competitive domestic products and technologies in many different industries and we expect that companies’ plans will be implemented due to the co-financing of the Fund at 5% per annum. Recently, the Supervisory council has changed the requirements for projects to make soft loans more accessible to medium-sized businesses. I hope that in the near future this will lead to the emergence of new not less interesting projects”, - the Director of Industry Development Fund, Mr. Alexey Komissarov commented the results of the Expert Council at INNOPROM-2015.

Total amount of loans granted since the beginning of the year exceeds 4.7 billion roubles, which is almost a quarter of the total Fund volume - 20 billion roubles.
The implementation of four new projects will allow to take up half of the market of absorbing means for the sick and the elderly; to establish production of fleece fabric, 100% of which is produced outside of Russia; to develop a comprehensive system of control and management of fire protection for large objects, including energy infrastructure, oil and gas industry; to substitute foreign engines for locomotives by Russian analogues, with higher technical specifications.
For this purpose the companies from the Ivanovo, Kaluga, Moscow and Rostov regions plan to invest more than 1.5 billion roubles in a modern import substituting projects that will allow establishing 527 high-performance work places in light and medical industry, engine manufacturing, and safety systems production.
After the conclusion of the loan agreement that secures the obligations of the parties and the terms of financing, the Fund will allocate money at 5% per annum.

As of early July 2015 the Expert Council of the Fund has approved the granting of loans to 16 businesses. Implementation of these projects will allow to attract in the real sector of Russia's economy more than 11.4 billion roubles,  4.7 billion roubles of which will be loans of the Fund, and to create about 1.6 million work places. Total volume of investments in the organization of import-substituting production already exceeded 4.7 billion roubles. Total cost of projects supported by the Fund exceeds 16.2 billion roubles.

 INNOPROM-2015 International Industrial Trade Fair takes place in Ekaterinburg over 8th to 11th July, 2015, in one of the largest expo-complexes of Russia, IEC "Ekaterinburg-Expo". This year, for the first time in INNOPROM’s history, China has been selected as a partner country. More than 150 different events of various formats are held during INNOPROM-2015. In 2014, INNOPROM presented about 600 companies from 70 countries. Ekaterinburg welcomed more than 30 foreign delegations. This year, GC Formika has become the operator of the International Trade Fair for the sixth time.

 

The general information partner for INNOPROM-2015 is Interfax and the administrator of the press center of the fair.

For more information, please contact with the Press Secretary of the INNOPROM 2015 Svetlana Ilyuk by phone +7 963 970 89 36
or with the head of the press center of the exhibition (IEC Ekat-EXPO) Ekaterina Graboedova +7 922 214 55 36

 

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