IDF will provide «Salavatsteklu» with about 500 million rubles of loan

The Russian Industrial Development Fund approved the allocation of 499 million rubles. loan from JSC "Salavatsteklo". The funds are allocated to expand the production of high-quality sheet glass, which is in demand in construction, the automotive industry and in the production of furniture, the press service of the fund reports.

After the implementation of the project with a total cost of 3.65 billion rubles. Salavatstekl's share in the Russian market will be about 15%. The company estimates the volume of the Russian market for these products at 235 million square meters. m of glass per year. There are 10 glass factories with a total capacity of over 8 thousand tons per day.

Salavatsteklo, along with the Iskozh and UZEMIK plants, is part of the group of enterprises of the entrepreneur Radik Sultanov.

The Industrial Development Fund was created at the initiative of the Ministry of Industry and Trade of Russia to modernize Russian industry, organize new production facilities and ensure import substitution. Provides loans at 1-5% per annum for a period of seven years and for an amount of up to 750 million rubles, stimulating the inflow of direct investments into the real sector of the economy.

Source: https://www.kommersant.ru/