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BUSINESSMEN FROM NOVOSIBIRSK INVEST 500 MILLION RUBLES IN MORDOVIA

Furniture association Rost working in Novosibirsk since 2004 starts the factory for production of cabinet and cushioned furniture in Mordovia. First products will be released in June 2017 in Ruzaevka (town in Mordovia). About 30 people will be employed at the first stage of project implementation. For the next 4 years Rost company is going to invest 500 million rubles in production in Ruzaevka, the estimated annual revenue is 900 million rubles. Mordovia Development Corporation provides support to the project at the local level. Rost company considered Tambov, Lipetsk and Ryazan as investment sites, but with the assistance of Mordovia Development Corporation it was decided to set up production in Ruzaevka.