Ruselectronics to implement a 9bn rubles project in the Tomsk SEZ

Vnesheconombank Supervisory Council considered and approved the bank's participation in financing the construction of mass production of light emitting diodes and LED lights in the Tomsk Special Economic Zone.

This project was initiated by OAO Ruselectronics as part of the energy efficiency improvement and import substitution initiative. The project involves construction of integrated manufacturing and testing facilities with a total area of 22,500 sq. m in the Southern Site of the Tomsk SEZ to design and manufacture LED lights. The total value of the project is 9.1bn rubles (including a 7bn rubles loan provided by Vnesheconombank). The project also involves creation of around 600 working places in the mid-term.

"The fact that a state corporation is taking part in a SEZ project has a tremendous strategic value. In Tomsk Region this is the largest investment project in the non-oil and gas sector for the last decade," emphasized Aleksey Baryshev, CEO of the Tomsk SEZ. "This project by Ruselectronics co-funded by Vnesheconombank is practically laying foundation of a brand new world class industry in Russia."

Background

The R&D Department of ZAO New Technologies of Light – Base LED Technology Center – Tomsk (OOO BCST – Tomsk) was established in October 2010 to develop, design, manufacture and test new materials, technologies and designs of light emitting diodes and LED-based lighting products. Since December 24, 2010 OOO BCST – Tomsk has been a resident of the Tomsk Special Economic Zone. It has been implementing the project "Creation, Production, and Sale of High-Capacity LEDs and Energy Saving Lighting Systems".

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