The Cabinet of Ministers of the Republic of Tatarstan has reviewed the agreement on the operation on the territory of the social and economical development “Nizhnekamsk”.
The Cabinet has approved the proposition of the Russian-Chinese Kamastal LLC to organize the manufacture of coated steel coils.
Shandong Baikal Group will be the Chinese investor.
The cost of the project is 428.7 million rubles. 63 new jobs will be created.
Kamastal LLC will be the first “Nizhnekamsk” resident.
The enterprise is expected to produce 50 thousand tons of coated steel per year to be sold in Russia and the CIS countries.
The company intends to occupy 2% of the Russian polymer-coated metal market, which is estimated at 2 million tons per year. (Ukrainian metal)