An agreement between Hussein Yaghoubpur, the Chairman of the Board of Directors, and Sergey Morozov, Acting Governor of Ulyanovsk region has been signed. The project will be phased. It is scheduled to conduct project design works and start building the plant facilities in 2017. The first lot of products will be released by the end of 2018.
The owner of Rad Sane Atti Industrial Group, a major Iranian businessman, intends to invest in the project about 1.4 billion rubles. The investor plans to create more than 100 jobs and provide the production of 300 thousand composite cylinders per year. The plant will exclusively use the Russian raw materials.
Rad Sane Atti Industrial Group is a large holding company, a leading manufacturer of composite gas cylinders in Iran, whose sustainable products are widely known in the world. The composite cylinders produced in Russia will be supplied to the enterprises of automotive and aviation industries within the program to increase the use of motor fuel in transport.
“We consider cooperation with Iran to be very promising. Even though our investment activity with this country started less than a year ago, we can already see the first results. This new project perfectly fits our strategy of manufacture the novel materials, composites in particular”, emphasized Sergey Vasin, General Director of the Corporation for Ulyanovsk Region Development.
Anatoly Chubais, the head of RUSNANO has recently announced the foundation of a joint investment fund with Iran and informed that the Arab partners have a clear interest both in the Russian basalt structural materials and the idea of establishing a joint fund.