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PRIORITY SOCIAL AND ECONOMIC DEVELOPMENT AREA RUZAEVKA WELCOMES FIRST RESIDENTS

Commission for investment projects in Ministry of Economy of the Republic of Mordovia supports first potential residents of Ruzaevka priority social and economic development area (TOSER). The supported projects are: “Production of furniture” (project of OOO Progress) and “Production of food additives for livestock on the base of OAO Moloko with reconstruction of existing and construction of new premises” (project of OOO Research and manufacturing association Promyshlennaya Microbiologia).

The aim of OOO Progress investment project is to provide large and medium retailers with high-quality economy class furniture. According to the initiators the project will reach design capacity in 2026. The volume of capital investments is 306.3 million rubles. Within the project there will be created 300 new jobs including 107 jobs created during the first year after obtaining the status of TOSER resident.

The aim of the other project is to set up production of food additives for livestock according to patent-protected technology with maximum design capacity of 340 kg/day. This volume is enough for 11.7 thousand cattle. The volume of capital investments is 47.6 million rubles, 17 new jobs will be created.

The Ministry of Economy, Trade and Entrepreneurship of the Republic of Mordovia will send the projects’ documents to the Ministry for Economic Development of the Russian Federation. The Federal Ministry will process the application within 10 days and, if the decision is positive, within 5 days notify the companies about obtaining the status.