A NEW RESIDENT OF SEZ TECHNOPOLIS MOSCOW TO SET UP OIL PRODUCTION EQUIPMENT

A new resident of the special economic zone Technopolis Moscow, NG-Progress, will invest 320 million Rubles in the production of high-tech oil production equipment that will enable to develop reserves that were previously unprofitable, informed Vladimir Efimov, Deputy Mayor of Moscow for economic policy and property and land relations.

“The company gained the status of Technopolis resident this June. The investor plans to create his own production of the component base, which will make it possible to abandon imported components and reduce the cost of products by an average of 10% of the market value. In addition, the company will create 40 new jobs for highly qualified specialists, and the company's taxes to the budgets of all levels in the next 10 years will amount to more than 405 million Rubles”, specified Vice-Mayor.

The investor will start construction of the new manufacturing in the second quarter of 2021 and will complete it in early 2023.

“In Alabushevo, the new resident will build a manufacturing complex with a total area of more than three thousand square meters. The enterprise is going to open its own design bureau and enable customized orders for large Russian oil companies. By 2023, NG-Progress will start producing at least ten types of oil production equipment”, replied Alexander Prokhorov, Head of the Department of investment and industrial policy of Moscow.

The resident status of Moscow SEZ gives the company the opportunity to save money through tax benefits on property, land and transport. The company will be able to invest the saved funds in improving the material and technical base as well as the quality of products.

“First of all, the company will start manufacturing equipment for oil-well injection and multi-stage hydraulic fracturing. After the start of production, Russian oil companies will be able to buy equipment without serious extra charges”, pointed out Gennady Degtev, CEO of SEZ Technopolis Moscow. 

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