MMK to co-finance projects with small and medium-sized businesses in Magnitogorsk
Co-financing will be provided on a competitive basis to create new production or expand existing production. The share of co-financing will be up to 30% of the cost of the project, but not more than RUB 15 million.
"This is another incentive for companies that have decided to establish industrial production within MMK Industrial Park," said Pavel Shilyaev, CEO of MMK, "The residents of the Industrial Park are already benefitting from regional support, including a zero-property tax rate and 3.5% reduction in the regional part of the income tax rate. There is also a preferential rental rate, only RUB 66 per square metre per month, which is half the average rental rate in Magnitogorsk."
On the Industrial Park site, there are production facilities, storage facilities with lifting equipment and energy supplies: electricity, industrial water, fire-fighting water, drinking water and natural gas. The site has a developed railway network with direct access to both the MMK internal railway park and the South Ural Railway.
The service support system for existing residents is being developed with new services being introduced this year such as optional insurance, personnel training and retraining, and individual banking services.
Detailed information about MMK Industrial Park can be found here: www.mmk.ru/indpark.
MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel-producing complex encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2017, the company produced 12.9 million tonnes of crude steel and 11.6 million tonnes of commercial steel products. MMK Group had sales in 2017 of USD 7,546 million and EBITDA of USD 2,032 million.
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