ZENIT Bank opened the funding for a project of expanding and modernizing the production of the Nizhnekamsk SSC tyre factory production works, which will be implemented using the subsidizing interest rates mechanism on export loans in accordance with the Decree No. 191 “On State Support to Industrial Enterprises Implementing Corporate Competitiveness Improvement Programs” dated February 23, 2019.
The project contemplates a comprehensive arrangement, reconstruction of infrastructure and industrial production organization of large-sized combined and solid steel cord tyres (hereinafter referred to as SSC). The implementation results will provide for planning the increase of the SSC tyres production output by 1.2 million tyres per year and creation of a new product: a 33 000 tyres per year capacity giant tyres manufacturing works.
The Nizhnekamsk solid steel cord tyre factory is the TATNEFT's KAMA TYRES business, specializing in the production of one of the most advanced products on the Russian tyre market: high-quality combination and solid steel cord tyres. The unique composition of the rubber compound using natural rubber and the tyres steel cord carcass of the KAMA and KAMA PRO brands provide for increased running life, high strength and fuel economy.
According to Sergey Kulakovkin, Head of ZENIT Bank Corporate Business Unit,: “The tyre manufacturing industry is one of the headmost segments of the world economy, and the tyre manufacturing business of the TATNEFT is one of the company’s high-tech divisions. We are confident that financing of this project will allow the Nizhnekamsk SSC tyre factory entering a new market niche by expanding the company’s assortment and increasing product exports” said.
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