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30.01.2020

Italian manufacturer of abrasive materials invests in the construction of a plant in Astrakhan SEZ Lotus

The expert council of the special economic zone Lotus, led by Deputy Chairman of the Government of the Astrakhan Region - Minister of Economic Development Kazbek Khadikov, approved the business plan of the investment project of JSC Technology 21 Century for the production of hulling brushes and abrasive materials.

Today we considered the application for granting the tenant status to JSC Technologies 21 Century, intending to implement a project on building a factory for the production of hulling brushes and abrasive materials in the SEZ Lotus. The project investor is a large Italian company Ferragu Abrasivi s.r.l. We are ready to provide the fullest possible support to the investment project during all stages of its implementation, - the press service of the Minister of Economic Development of the region Kazbek Khadikov quotes.

Ferragu Abrasivi s.r.l. is a family business founded in 1972, which specializes on production of abrasive materials and brushes for marble and metal filing and polishing. This goods are widely used in shipbuilding fields, pipe and tube production and while building pipelines.

According to Evgenia Kareva, director of Technologies 21 Century, the planned production will be equipped with ten specialized machines, a production line and laser equipment necessary for making of 18 kinds of products. The planned production capacity of the facility will be 3.1 million hulling brushes and abrasive materials annually. The completion of commissioning and the launch of industrial production are scheduled for the first quarter of 2021.

The total investment cost of the project is estimated at 828.8 million rubles. The organized production is aimed at exporting to Italy, where in recent years there has been a steady increase in demand for these products.

The representatives of the expert council were interested in environmental risks during the implementation of this project. David Ferragu, owner and member of the board of directors of Ferragu Abrasivi s.r.l, explained that the production does not use chemicals and furnaces that could harm the environment. The company will install modern high-tech equipment.

Sergey Aseev, the first Deputy General Director of JSC SEZ Lotos noted that a land-plot was selected for the company; the project will be provided with all necessary communications. We support the company at all stages of the project and provide all necessary conditions for the construction of production facilities, their further operation and effective development of the company's production activities, he said.

Recall that this will be the second production with Italian investments in Astrakhan SEZ. Last year, the Naval Design International company received the tenant status of the SEZ Lotus with a project for production of ship panels.

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