12 January 2016

Nevskiy Zavod will Receive State Support for the Development of its Production Capacities

Closed Company “Nevskiy Zavod”  (production site of "REP Holding) and the Ministry of Industry and Trade of the Russian Federation have concluded an agreement for granting a subsidy to compensate for part of the costs related to implementation of the second phase of  St. Petersburg strategic investment project “Development of Science-and-Technology and Production Facilities  for  Power Engineering  based on  Closed company “Nevskiy Zavod”.  

Signing the agreement became possible due to  participation of "REP Holding” in the federal program aimed to  develop the industry and increase its competitiveness.

The project is focused  on meeting the demand of Russian enterprises for gas turbine units rated at 16-25-32 MW used in the gas transmission system as part of gas-pumping units  at compressor stations and in the power generation segment.

The project is implemented in several stages and is aimed at further development and modernization of  Nevskiy Zavod production capacities  to localize production of up-to-date turbo-units  in Russia.

The project started in 2013 with the  development of project documentation and signing the first license agreements with GE Oil & Gas (Nuovo Pignone S.p.A.) and Solar Turbines  on  transfer of technology for production of new range stationary gas turbines. In  2014 Nevskiy Zavod started preparing production facilities for the manufacture and tests of new products. At present the enterprise is at the final stage of the new stationary 16 MW GTU production and preparation for bench testing.

The agreement with the Ministry of Industry and Trade will enable Nevskiy Zavod  to recover  up to 70% of the amount paid in interest on loans received for the development of the enterprise production capacities  within the framework of this investment program implementation.

Implementation of the federal program will result in establishment of the power engineering cluster producing the investment demand-oriented high-tech products at the level of the world's leading standards to satisfy the strategic needs of the country and for export. This project will contribute to the development of industrial production towards increased release of high-tech products, as well as to the productivity growth and creation of high-performance jobs.

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