Tomsk Instrument Plant will receive state support from the regional budget for the creation of the high-tech manufacturing facilities


Tomsk Instrument Plant (TIZ) will receive a grant from the regional budget for the creation of the high-tech production of the import-substituting cutting tools; the appropriate document was signed by the governor Sergey Zhvachkin.

TIZ investment project is aimed at the gradual upgrade of the process equipment for the expansion of production of the cutting tools with wear-resistant coatings for the treatment of light and titanium alloys, heat-resistant and stainless steels. The cost of the investment project is 150.7 million rubles, including venture investments from its own funds - 35.4 million rubles. The production volume should grow on the average by factor of 3.7 till 2019 compared with 2013 (from 121% to 700% in different positions). The size of the state support is 7 million rubles.

The regional government will reimburse the Tomsk Instrument Plant part of the interest rate on loans attracted for the implementation of the investment project, - 8 per cent per annum. Budget support will be provided to all relevant expenses in the period from 2014 to 2018.

"Even in difficult economic conditions, we have supported and will be supporting our businesses, which create high-performance workplaces, expand the range and volume of output, replace imports and compete successfully in the domestic and foreign markets, - said the Governor Sergei Zhvachkin. – Today Tomsk Instrument Plant works steadily, implementing new technologies."

For reference:

Tomsk Instrument Plant LLC and the Trading Company "Tomsk Instrument" LLC are included in the group of companies "Tomsk Instrument".  It is engaged in the production of metal and woodworking tools (drills, mills, taps, build-up tools) for various industries. The plant is fitted out with the state-of-the-art equipment.

Source: Press office of the Tomsk region administration.
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