A serial import-substituting production of plates and blanks for metal cutting, necessary in the machine tool industry, has been launched in St. Petersburg. This was announced by Roman Petrutsa, Director of the Industrial Development Fund.
Today, the 1000th new production facility has been launched with the participation of the Industrial Development Fund. The anniversary project was the Virial company, which launched a series of cutting tools in demand in key industries. The federal IDF provided a preferential loan of 1 billion rubles for the purchase of equipment, and total investments amounted to 1.25 billion rubles.
Virial plans to produce up to 6 million cemented carbide indexable inserts and up to 120 tons of cemented carbide metal-cutting tool blanks annually. This will make the company the largest manufacturer in Russia in this niche. Some of the new plant's product range has no domestic analogues.
Currently, about 70% of the Russian market for indexable inserts and cutting tool blanks is occupied by foreign manufacturers, mainly from China and South Korea. The launch of the new production will reduce dependence on imports and strengthen the position of domestic manufacturers in the market.
Earlier www1.ru reported that Russia is almost completely dependent on foreign machine tools.
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