Determined new tasks for the construction of a polypropylene factory at a meeting in the field of Jaroslav in Moscow. We have already discussed this project in November, we have now held talks directly with the Chinese side, with the Plenipotentiary Representative, Sinogidro Corporation Limited, Li Dunsh (PowerChina Corporation), Director General of the Sinorus Energy General, Van Minzyue and other partners.

A feasibility study has been prepared and preliminary funding arrangements have been made. Two major Chinese corporations will invest in Russian, engineering, supply and construction. They have the necessary competencies, and they have already implemented projects in Russia. For our part, we provide land, logic, infrastructure and full escort from the Development Corporation of the Yaroslav region. As a promising area, the promzone is considered in the Copayevo neighbourhood in Rybinska, where gas and all necessary technical conditions are already in place. The allocation of land there will be made to the Investment Commission.

Investments are estimated at over 28 billion roubles. The capacity to produce up to 119,000 tons of granular polypropylene per year will allow 70 per cent of products to be exported. For the region, this new, modern enterprise will provide 300 jobs, taxes and increased industrial capacity. All arrangements will be established in an investor-China partner agreement.

The Jaroslav region is a region of great opportunities. Gross regional product grows by 12 per cent annually. We have high levels in industry, construction, agro-industry, tourism. We are interested in and open to investors. Investment is development, it's the future. We therefore make every effort to bring business to the region, and cooperation is mutually beneficial.

Background

The cooperation of the Jaroslav region and the People ' s Republic of China has evolved in a number of ways. For example, in cooperation with the Chinese provinces of Guandun, Jiangi and Heilunzian, official delegations and business missions, inter-ministerial consultations are being held in accordance with existing bilateral agreements. Interrelationships in economics, energy, culture, education, tourism, sport, youth policies and innovative technologies are among the mutual interests.

Inter-municipal contacts are under way between the Perslav-Zales and the Shangsi region, the Rybin and the town of Chunzo, the Yaroslav Municipal District and the Zinjangpu region of the city of Huaianzou, Yaroslav and the towns of Nanjin and Zyuzian.

Source:Official Portal of State Authorities of the Yaroslav Region