«Metafrax» will receive the preferential loan of the Federal Industrial Development Fund
On February, 14, PJSC Metafrax and Federal Industrial Development Fund have signed the Contract for the allocation of the preferential loan in the amount of RUB 500 Millions. This amount is provided for the implementation of the investment project for the paraformaldehyde plant construction at the industrial site of «Metafrax» in Gubakha.
«Metafrax» started the project realization in 2019. The capital investments are amounted to RUB 5,2 Billions (excl. VAT). Considering the loan of the Federal Industrial Development Fund the enterprise is intended to put into operation the paraformaldehyde production plant with the capacity of 30 thousand tons per year. The start up of the object is scheduled for the second half of 2021. In addition, the investment project involves the construction of the formalin production plant with the capacity of 180 thousand tons per year.
Paraformaldehyde is an import substitution product. Currently it is not produced in Russia. The project implementation will not only completely cover the current demand of Russian market, which amounts to 7 -8 thousand tons per year, but it will also allow to send the product for export.
As explained by the General Director of «Metafrax» Mr. Vladimir Daut, the involvement of the loan of the Federal Industrial Development Fund is an successful cooperation example between an enterprise and the state.
- As a result it will help to start the paraformaldehyde production, which does not have analogues in Russia yet. New high-tech employment opportunities will be created. We look forward to fruitful cooperation with the Federal Industrial Development Fund on this project and hope for the continued joint work in the future, - stated Mr. Vladimir Daut.
The cooperation of PJSC Metafrax and Federal Industrial Development Fund started in 2018 on the platform of the international investment forum in Sochi. At that time Federal Industrial Development Fund had already big participation experience in the investments projects, including Perm Region. With the participation of the Federal Industrial Development Fund and Ministry of Industry and Trade of Perm Region PJSC «Metafrax» has prepared the documents to receive the loan in frames of the «Development projects» program.
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The Supplier of the equipment and technology for the paraformaldehyde production will be Danish Engineering Company “GEA Process Engineering”. In order to provide raw material (formalin) for the paraformaldehyde plant with the capacity of 30 thousand tons per year, the project involves the construction of the formalin production plant with the designed capacity of 180 thousand tons per year. The licenser of the choosen technology for the formalin production will be Dynea AS Company (Norway).