In the town of Kotelnich, Kirov region, a welding materials plant will expand production of welding wire. This was reported by the press service of the regional administration.

The company plans to expand the production of welding wire by nearly doubling the output to 800 tons of wire per month.

The total investment project will amount to 50 mln. rubles.

The Supervisory Board members reviewed the enterprise's application and approved the loan. After the project has been reviewed by the Export Council of the Industry Development Fund of the Russian Federation the enterprise will receive 7.5 million roubles from the Industry Fund of the Kirov Oblast and 17.5 million roubles from the Russian Industry Development Fund.

Alexander Churin, the chairman of the Kirov Oblast government, emphasized that the regional government is interested in the development of the industrial sector in the region." This is why, at the initiative of Governor Igor Vasiliev, an industry development fund was established in the Kirov Oblast whose main purpose is to provide regional industrial enterprises with access to financial resources on easy terms and to help them increase the production of domestic products and increase their demand", he said.

Made in Russia / Made in Russia

Author: Maria Buzanakova