Russian Engineering Plastic Manufacturer to Place Its Facility in Ulyanovsk Region

The agreement was reached by Governor Sergey Morozov after an online meeting with the investor.


“Implementation of investment projects improves the quality of life in the territory where the facilities are located - primarily thanks to creating jobs with good salaries. It is important now to quickly make up for the time lost because of the pandemic, and we are actively preparing agreements and contracts. The new production, which will be located in the Ulyanovsk region, will attract more than 7 billion rubles of investment to the region's economy and create jobs for our citizens,” - said Sergey Morozov.

The production of engineering plastic will be placed in Zasviyazhsky District of Ulyanovsk. These goods are required to make cars, electronics, plumbing equipment, household appliances and consumer commodities. Investments into the project will total more than 7 billion rubles; 50 new jobs will be created for residents of the Ulyanovsk region.

“The products manufactured by the company are currently imported from abroad, so it will be the first such facility in our country. We intend to sign an agreement on implementation of the project in the nearest future, when we will get the opportunity to meet and discuss necessary activities in detail,” - said Sergey Vasin, CEO of the Ulyanovsk Region Development Corporation.

According to Marina Alekseeva, First Deputy Chairman of the regional Government, preparations for the Governor's annual Investment Address are currently underway. It will focus on development of the new promising sectors of the region's economy, which include projects in the field of renewable power generation, production of composite materials, and hydrogen-based energy sources. Work will also continue to create infrastructure for placement of large-scale industries and to improve tools for government regulation of the investment climate.