Resident of the SEZ Technopolis Moscow will invest 357 million rubles in the production of cutting tools

At the end of 2020, Microbor company is to start import-substituting production of cutting tools made of super-hard composite materials in the capital city, informed Vladimir Efimov, Deputy Mayor of Moscow for economic policy and property and land relations.

“By 2023, Moscow will see high-tech manufacturing site for cutting tools made of ceramic and hard alloy, comprising a set of laboratories and training center. The largest cutting tools maker of Russia will invest 357.86 million Rubles in the project, creating over 120 new jobs”, specified Vice-Mayor.

The new manufacturing will be located in SEZ Technopolis Moscow in Pechatniki. “With the unique equipment and advanced technologies, the company has greatly improved the cutting characteristics as well as the hardness of the produced tools up to the highest world level. With the aim to share the experience, the resident of the special economic zone together with MSTU “STANKIN” has created a special retraining program on development, production and introduction of super-hard composite materials”, said Alexander Prokhorov, Head of the Department of investment and industrial policy of Moscow.

The benefits provided by SEZ Technopolis Moscow helped to widen the production line a lot. “The company gained residential status of the special economic zone a year ago, in July 2019. Today the manufacturer saves quite a lot on taxes and other obligatory payments, investing extra money in the purchase of new equipment, new production capacities and new types and forms of the cutting tools made of CBN, PCD and ceramics”, said Gennady Degtev, CEO of SEZ Technopolis Moscow.