Anton Siluanov and Rustam Minnikhanov visit the Alabuga Special Economic Zone

On March 2, Minister of Finance of Russia Anton Siluanov together with Tatarstan President Rustam Minnikhanov visited the Alabuga Special Economic Zone.

It was Siluanov’s first visit to the Alabuga, therefore he was shown some enterprises. In particular, he visited the Rockwool plant for the production of thermal insulation, the Kastamonu woodworking plant and the car assembly line and car engine plant at the Ford Sollers.  

After that, the Minister took part in a meeting on supporting the implementation of priority investment projects.

Speaking at the meeting, Director General of the Alabuga Special Economic Zone Timur Shagivaleev reported that it is planned to implement projects totaling 1.25 trillion roubles at the Kama Industrial Cluster. New production facilities will yield up to 720 billion roubles of revenue annually, he continued. At the same time, the necessary investments in infrastructure are estimated at 183 billion roubles. According to Shagivaleev, private investors could allocate their funds for the infrastructure provided that the government will reimburse them for these expenses later.

Heads of some Tatarstan enterprises reported on projects they plan to implement and made proposals on measures of state support for these projects in terms of financing the construction of infrastructure.

Summing up the meeting, Siluanov noted achievements of the republic in implementing major investment projects. "Tatarstan has succeeded in all areas. The Alabuga Special Economic Zone is a good example of how the republic is able to attract investments and create conditions for implementing projects," the Russian Finance Minister said. "Today, instruments to boost further investment are needed and we are ready to develop such instruments."

"From our part, we are ready to provide detailed calculations of the economic efficiency of the projects presented today for the development of these instruments," Minnikhanov told Siluanov.