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The second company with Italian equity received the status of a tenant of SEZ "Lotus"

The Ministry of Economic Development of the Russian Federation has issued a certificate of registration of JSC "Technologies – ХХI Century" as a resident of the special economic zone "Lotus". The company's project involves the construction of a plant for the production of hulling brushes and abrasive materials. The initiator and investor is the family-owned Italian company Ferragu Abrasivi – the leading manufacturer of hulling brushes in Italy. The venture will be the first production of hulling brushes and abrasive materials localized in Russia.

As part of the project, it is planned to set up the production of 18 types of products, including grinding wheels, disc and cup brushes, which are widely in demand in the shipbuilding, pipe industry and pipeline construction. The planned production capacity of the plant will be 3.1 million hulling brushes and abrasive materials annually. The company will install modern high-tech equipment. The total investment cost of the project is estimated at 828.8 million rubles.

"Despite the challenges that the world is facing today, both Russian and foreign businesses are focused on developing and expanding their presence in the global market. Our Italian investors are proof of this. We hope that after all restrictive measures due to the current epidemiological situation are lifted, they will immediately start implementing projects. We are in constant remote communication and resolve any questions that tenants may have. So far, all plans are still in place," said Sergey Milushkin, the Director General of JSC SEZ “Lotus”.

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 SEZ “Lotus” with a project for production of ship panels. Thus, there are currently 15 residents in SEZ “Lotus” with 29 billion rubles as the total amount of declared investments.

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