The Guaranteed Investment Contract of JSC HMS Livgidromash received the Multi-Authority Commission's approval

In view of the results of the meeting of Multi-Authority Commission (hereinafter referred to as MVK) for entering into special investment contracts (hereinafter referred to as SPIK) under the chairmanship of the Nikitin Gleb - First Deputy of the Minister of Industry and Trade, the members of MVK took a positive solution on signing the guaranteed investment contract with JSC HMS Livgidromash. The parties – SPIK members are Ministry of Industry and Trade of Russia, the administration of Orel region and the Joint Stock Comany HMS Livgidromash – the investor (t. Livny, Orel region).

The realization of the said project by JSC HMS Livgidromash in the field of localization of industrial production of the pumps for oil refining (as per API standards), main line pumps of big capacity for transporting oil and petroleum products, for use with power system and water industry will provide employment opportunities in the region. Volume of investment over SPIK project's lifespan (6 years) will amount to 1 236 mil of roubles.

In the end of the project realization the release of import-substituting products of domestic manufacture will be managed (in conformity with import substitution plan № 645 of the Ministry of Industry and Trade of Russia, in which the import ratio on the given type of production makes up 60 %), instead of similar products of the leading foreign manufactures.

Special execution of a project will make it possible to meet the production needs of the largest oil-and-gas processing complexes, the demand of the enterprises for transporting oil and petroleum products, the power engineering companies and regional water treatment plants for basic nomenclature of pumping equipment, starting from the 2016 year. The expected level of localization for all kinds of products – up to 90%.