The Supervisory Board of the Industry Development Fund (IDF) approved the provision of loans for the implementation of nine industrial projects under various programmes: Conversion, Leasing Projects, Digital Industry, and Components.
Under the Components programme, a loan was approved to the Tatarstan-based KamEnergoMash (KER-Holding), with which the company is expected to launch the production of components for gas turbine units in Nizhnekamsk.
“We are confident that the IDF support and the development of such Russian enterprises are extremely important both for the region and for the industry in general,” company’s Director Andrei Melnikov said.
A concessional loan at 1% granted by the Industry Development Fund will be used to expand the production of domestic products within the framework of import substitution programme. According to the company’s information, foreign manufacturers now occupy 53% of the Russian market. In particular, the company will produce blades and disks for turbines and compressors, gearboxes, body elements. These are spare parts for gas turbines of Russian and foreign origin. The total project cost is RUB 529 million, of which RUB 398.9 million can be provided by the IDF as a concessional loan.