The Ministry of Industry and Trade of the Russian Federation will provide support to 13 enterprises of Leningrad region implementing corporate competitiveness programs. They will receive government support in the form of soft loans.
“All applications from the enterprises of Leningrad region were approved by the Ministry of Industry and Trade. We are grateful to the federal authorities for the trust, I am sure that this support will become a good incentive for further development of export activity of the regional enterprises,” noted the Governor of Leningrad region Alexander Drozdenko.
Implementation of corporate competitiveness programmes will allow manufacturers to reduce interest rate of commercial banks on export credits from 3 to 4.5% of the base rate.
The participants from Leningrad region include chemical enterprises Polyplast North-West, Interfoam, Pikalevskaya Soda, timber industry enterprises – Lesplitinvest, ARTEKS, Syassky Pulp and Paper Mill, metallurgy enterprises – Scaffolds Plant, power engineering enterprises – Titan Technology Pipeline, automotive industry enterprises – Faurecia Interior Luga. Manufacturers of glass packaging Ruscam Glass Packaging Holding, of sanitary products Roca Rus, a manufacturer of LED lamps Nord Invest were also included in the programme.
The total sum of applications on project financing of these companies amounted to more than 20 billion rubles.