29.04.2018The Investment and Venture Fund of the Republic of Tatarstan together with the Industrial Development Fund will allocate 53 million rubles for the production of vacuum auto-loaders and stationary vacuum units for various industries, whereof the IDF loan will amount to 37.1 million rubles, 15.9 million rubles will be provided by the Investment and Venture Fund of the Republic of Tatarstan as an authorized body of the Industrial Development Fund in the territory of the Republic of Tatarstan. The total cost of the “RIAT” JSC project implementation will be 109.8 million rubles.
The project was approved within the scope of the Agreement concluded between the Industrial Development Fund (further - IDF) and the “Investment and Venture Fund of the Republic of Tatarstan” non-profit organization (further - IVF) on joint financing of projects under the “Development Projects” program.
The products manufactured under the project are of import substitution nature and are aimed at partial replacement of foreign manufacturers of special vacuum equipment in the Russian market. The share of “RIAT” JSC in the Russian market of vacuum technology of high capacity in 2017 was 4%; whereas the implementation of the project will enable to reach 10% by the year of 2022. The company plans to launch a batch production in Q4 of 2019.
The project will be implemented in the company's own production premises with an area of more than 16,000 square meters, including a shop for manufacturing special equipment and components, painting chambers, equipment repair rooms, warehouses and administrative and utilities blocks. The enterprise will reduce the cost of production due to the use of domestic components, while the quality and functionality of machinery will remain at the level of leading import manufacturers.
The export potential of the products will be about 15%. The project is expected to increase production volumes and expand sales markets for vacuum installations, as well as an access of products to foreign markets of Central Asian countries - Turkmenistan, Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan. The project has economic, budget and social efficiency, contributes to an increase in tax deductions to the budgets of all levels and creation of new jobs.