TASS: AO GC Titan will construct the import-substituting production in Nizhny Novgorod region for 5 billion rubles

AO Group of Companies Titan will construct the plant to produce components for the tires production and chemical industry in Nizhny Novgorod region. The project invest volume is 5 billion rubles. The corresponding Agreement was signed on Friday by the Governor of the Nizhny Novgorod Region Gleb Nikitin and Chairman of the Board of Directors of AO GC Titan Mikhail Sutyaginsky аt the Saint-Petersburg International Economic Forum (SPIEF), the press service of the regional government reported.

“The Governor of the Nizhny Novgorod Region Gleb Nikitin and Chairman of the Board of Directors of AO GC Titan Mikhail Sutyaginsky signed an Cooperation Agreement to implement the invest project to construct the import-substituting production for the micronized silica gels and stable silica sols production in the region. The planned invest volume the project is 5 billion rubble.” noted in the report.

The micronized silica gels is used in the tires and rubber technical goods production, paints and lacquers production, plastics production, chemical industry, as well as in the food production for the filtration and stabilization of beverages and vegetable oils. The Stable silica sol is used in oil refining, in the production of transformer steel, adhesives, paper, emulsion paints, and building materials.

“The new import-substituting production complex construction in Nizhny Novgorod region is important step in the region's economy development. Within the project implementation 100 workplaces will be created. The invest project will provide additional tax payments to the all levels budgets.” Gleb Nikitin noted.

Approximately the production start is scheduled on the 2023-2024. The two production lines summary capacity is 6 000 tones of stable silica sols and 12 000 tones of micronized silica gels per year. In accordance with the Gleb Nikitin words, the special economic zone “Kulibin” is regarded as a place to locate the production in Dzerzhinsk. The application for the project consideration at the SEZ will be considered by the expert council in 2021, the project will be supported by the Nizhny Novgorod Region Development Corporation.

About the Forum

Within frames of the SPIEF the Nizhny Novgorod Region delegation plans is planning to sign about 10 Agreements. The Stand of the region at the SPIEF is dedicated to the 800th anniversary of Nizhny Novgorod.

The Saint-Petersburg International Economic Forum, organized by the Roscongress Foundation, takes place from 2 to 5 June. The Forums agenda in this year is “Together again. The new reality economy”. TASS acts as an information partner and photo-host agency of the event.

Source:TASS, 04.06.2021

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