Indian Company to Place Its Food Production Facility in Special Economic Zone "Ulyanovsk"
The agreement was reached between Governor Sergey Morozov and the investor at a meeting, which took place on 2 February
“We continue working to restart the investment cycle, and our task is to keep up the rate of economic development, as well as to improve the legal and regulatory framework and the system of state support for business, so that investors could place high-tech production facilities in the region and create well-paid jobs. We also continue developing cooperation in the field of international trade. We agreed with an Indian company to promote export of goods made in Ulyanovsk abroad. The company has extensive sales channels and will promote interests of Ulyanovsk manufacturers in Asia and North Africa. We already have successful experience of working with our Indian partners,” - said Sergey Morozov.
Over 11 months of 2020, export from the Ulyanovsk region to India amounted to 461.9 thousand dollars. The main product groups included mechanical equipment, computers, optics, medical devices, ceramic products, electrical appliances, communication equipment. India also receives fuel level sensors, insulating brick, and automotive components.
The Indian company, which management visited the region, provides wholesale supplies of petrochemicals and agricultural products to Russia, Iran and other countries. As representatives of the investor noted, the site in the Special Economic Zone "Ulyanovsk" is perfect for implementation of the production project.
“A foreign company has registered as a resident of the Port Special Economic Zone. The investor will start their activities in the region by developing trade and establishing cooperation with agricultural manufacturers; in the future, they are planning to build a plant for production of camelina oil, which is in demand in Russia today and is used in the food industry for production of biodiesel and make-up,” - said Sergey Vasin, Director General of Ulyanovsk Region Development Corporation.