The Supervisory Board of the Industrial Development Fund (IDF) recently approved the August-Alabuga project of arranging the production of plant protection products, as well as polymer containers for packing them.
The August-Alabuga company (a resident of the Alabuga Special Economic Zone and a subsidiary of the AO Firma August, one of the leaders in the Russian market of plant protection products), intends to organise, with the use of the IDF loan, the environmentally friendly production of proprietary plant protection products. The production capacity is expected at 15.8 million litres per year and a polymer package production will be 5 million cans per year, with a future increase in the production capacity up to 30 million litres per year.
The project is aimed at implementing the import substitution programme in the agrochemical sector by increasing the domestic production of chemical plant protection products in the Russian Federation. Implementation of the project would contribute to attracting direct investment to Tatarstan, creating more than 300 new jobs, and increasing business activity and competitiveness of the domestic economy.