Investors Plan to Implement New Investment Projects at the NOVGORODSKAYA Special Economic Zone

Investors Plan to Implement New Investment Projects at the NOVGORODSKAYA Special Economic Zone

New investment projects were presented at the meetings of the Novgorodskaya Special Economic Zone Supervisory Board and the Governor’s Council for Improvement of Investment Climate. These meetings were chaired by head of the region Andrey Nikitin.

Production Company Blazar LLC presented to the Supervisory Board a project for establishing the manufacture of electrical products. Project manager Oleg Bedskikh noted that these products are demanded by the electric motor and transformer manufacturing industries. The planned manufacturing volume is 2,160 tons of products per year. The total investment in the project will amount to more than 215 million rubles, and about 40 new jobs will be created.

During the Investment Council meeting, a project for establishing a high-voltage (up to 3 kV) power cable production facility in the Special Economic Zone was viewed. Its implementation will be carried out by Russky Svet Cable Plant LLC. Earlier, the company's application for obtaining the special economic zone resident status was approved by the Expert Council of the Novgorodskaya SEZ. The investor plans to complete construction work in 2025 and reach full capacity in 2026.

The following projects were also viewed at the Investment Council meeting: “Construction of a Plant for Manufacture of Components and Special Paints” by Fort Verny LLC and “Creation of a Plant for Manufacture of LED Lighting Fixture Housings and Components” by Prom-Svet LLC.

General Director of the Novgorodskaya SEZ, Artur Ayupov, reported at the Investment Council meeting that the work on creation of a special economic zone is continuing. All planned facilities, including customs and railway infrastructure, the main step-down substation, water supply and sewerage systems, as well as 2.6 km of roads, were built in a little more than two years.