Textile Factory to Be Created in Special Economic Zone "Ulyanovsk"
Government of the Ulyanovsk Region and a large Turkish company signed the investment agreement on 24 October.
Delegation of the region headed by Governor Sergey Morozov has come to the Republic of Turkey with a working visit.
“Turkey is one of the most promising economic partners of the Ulyanovsk region. Foreign investors are implementing a number of major projects in the region such as Martur production of car seats, which is planning to increase the output in the near future. Today, an agreement has been signed with a new company, which intends to invest 700 million rubles in implementation of its project; the enterprise will create about 80 new jobs for residents of the region. We highly appreciate our active cooperation with this country and are confident in productivity of the future collaboration,” - Sergey Morozov said.
Oleg Barabanov, Director General of the Ulyanovsk SEZ, said that this Turkish company would create a textile factory of full cycle. Production in the Ulyanovsk region will be investor's first project in Russia, which localization will reduce delivery time of textiles.
The company is going to start work at rented space in the industrial park of SEZ "Ulyanovsk" and then to build its own manufacturing complex. The project's second stage will start there in the first quarter of 2021.
During the working visit, delegation of the region has also visited several industrial enterprises and held negotiations with a number of Turkish companies.
"We made a presentation about the Ulyanovsk region and demonstrated individual solutions for production localization to a number of potential investors: companies working in automotive, textile, and construction industries. Turkish business is interested in localization in our region; even more so because we already have experience of successful projects implemented together with this country,"- said Igor Ryabikov, Executive Director of Ulyanovsk Region Development Corporation.