Metal cord production to be launched in the Lipetsk Region

Projects on setting up facilities for high conversion steel products manufacture are carried out in Special Economic Zone Lipetsk. At a press conference Oleg Korolyov, Governor of the Lipetsk region, said that despite a difficult economic situation in the Russian market, no investor had left the project.

In his interview to Metal Supply and Sales Oleg Korolyov said, “No projects has been suspended. Moreover over the I half of 2009 international investments have increased 5.5 times reaching 23 billion roubles which equals an annual budget of the region”.

The projects carried out in the Special Economic Zone Lipetsk include building of Bekaert Lipetsk metal cord manufacture facilities. According to the schedule the works will be brought into operation already in December 2009. The volume of inverstments is estimated at EUR 97 miln. The new works will provide some 250 jobs.