New machine-building factory to be built in Nizhny Novgorod

The Government of the Nizhny Novgorod region, the administration of the city of Dzerzhinsk and Danieli-Volga Ltd. signed the agreement about the establishment of a machine-building factory for the production of metallurgical equipment for the industry in the region. The governor of the Nizhny Novgorod region Valery Shantsev said that the signing of the document became a landmark event for the industry of Nizhny Novgorod.

"The equipment will ensure the modernization of such an important industry as metallurgy. The Nizhny Novgorod region will come to a new level of production capacities," said the head of the region. According to him, metallurgical factories in Cherepovets, Chelyabinsk and Magnitogorsk will secure the future of the new factory.

General Director of Danieli-Volga Ltd., Vladislav Lurie, said that the factory will use state-of-the-art equipment from Korea, Germany, Italy and the UK. The plant will be equipped in the same way as the Italian company.

The new factory is to be launched in 2013. Valery Shantsev noted that investments for the creation of the factory would make up from 80 to 100 million euros. As many as 1,200 new jobs will be created.