Tyumen “Krosno” Factory to Receive 527 Million Rubles for Renovation

29.09.2009 — News

TYUMEN OBLAST.

The Tyumen JSC "Krosno" is the only enterprise in the Urals Federal District included in the Russia's Light Industry Development Strategy up to 2020. Its 527 million rubles worth Investment project envisages the factory's total technical upgrading.

The RF Ministry of Industry and Trade informed RusBusinessNews that following the factory's upgrading its sales of suit and coat fabrics will amount to 378 million rubles. Over the last years, this figure was in the range between 280 and 310 million.

Russia's Light Industry Development Strategy envisages implementation of 30 pilot and investment projects mainly at the enterprises located in the Central and Volga Federal Districts. A total of 77.62 to 145.63 billion rubles worth of investments will be allocated from the budget and private sources within the next 11 years, depending on the market situation.

Upgrading of industrial enterprises is expected to encourage market development and increase its turnover from the current 2 trillion rubles in 2009 to 2.5-2.6 trillion rubles in 2020. Moreover, Russia's textile production is expected to become more competitive, to challenge imports and to increase its share of the domestic sales structure from 19 to 27%.