The Fund of Industrial Development under the Ministry of Industry and Trade of the Russian Federation granted a loan to the value of 500 millions of rubles for the realization of major project on industrial localization of the technology intensive pumping equipment at the JSC “HMS Livgidromash” (t. Livny, Orel region).
The received funds are to be invested in building construction of new production complex; as from the very beginning of 2016 year it is scheduled to master the phased manufacture of the pumps and related units in conformity with the requirements of international standard API 610/GOST 32601-2013.
The nomenclature of equipment which is planned for production includes all the main types of the pumps intended for oil processing, gas refining and shipments of crude, petroleum products and gas-condensates (namely: process pumps, main line machines, jockey pumps, proportioning & canned pumps, auxiliary pumps), as well as for use with primary technological processes at the nuclear and thermal electrical stations (namely: feed pumps, condensate pumps, network pumps, circulators and the large-sized pumps designed for the security arrangements and industrial contours of the Nuclear Power Plants).
It is assumed that the said new production complex of the JSC “HMS Livgidromash” will turn into advanced technology production within Russia: thus allowing development, fabrication and test trials of the wide range of pumping equipment inside one whole industrial worksite.
Successful realization of the said project of the HMS Group having a total cost of 2,6 milliards of rubles is to cover the essential needs of Russian oil-and-gas companies and energy plants for effective high-tech pumping equipment.
Fund of Industrial Development (FID) was created on purpose to modernize Russian industry, to organize new productions and to insure import substitution economic policy. The Fund provides easy terms for shared investment into projects aimed at development of new high-technology goods, technical upgrading and setting-up of rival productions on the basis of available first-best technologies. In order to implement industrial process-oriented projects the Fund of Industrial Development gives loans by way of competitive bidding at interest rate of 5% per annum for the period of 7 years in monetary volume ranging from 50 up to 700 millions of rubles: thus encouraging the flow of direct investments into the real sector of economy. As of middle of December, 2015, the total number of projects approved by Expert Council of the Fund of Industrial Development amounted to 72. Their overall value is more than 177,5 milliards of rubles, whereof the loans contracted by FID comes to 23,7 milliards of rubles.