China invests $450 million in 'Smart Manufacturing Plant Haier' in Tatarstan

6 June 2019, Thursday

In Moscow Kremlin the government of the Republic of Tatarstan, municipal education of the city of Naberezhnye Chelny, Ministry of Industry and Trade of Russia, and Haier Group have signed a Memorandum of Intent for investment projects implementation for the purpose of starting up a 'Smart Plant' for manufacturing washing machines in the industrial park Haier (the city of Naberezhnye Chelny). It is expected that it will comply with standards of the Fourth Industrial Revolution. The investment cost in this project will amount to $450 million.

This document was signed by: the Ministry of Industry and Trade of Russia, Denis Manturov, the President of the Republic of Tatarstan, Rustam Minnikhanov, the Mayor of the city of Naberezhnye Chelny, Nail Magdeev, and the President of Haier Corporation, Mr. Chou Yuntzi. This project will foster the social-economic development of Russia, the Republic of Tatarstan, including in particular the city of Naberezhnye Chelny, the foundation of unique manufacture, the increase of tax assignments to the treasuries at all levels, and the export capacity development of the country in the field of high-technology products.

“It is gratifying to know that during the prosperity of the relations between our countries, namely the 70th anniversary, we have marked this kind of event. The Haier refrigerator manufacturing plant functions successfully in the city of Naberezhnye Chelny. For the past three years more than a half a million refrigerators have been manufactured. By carrying out the 'Smart Plant' idea, we are going at lightning speed towards the creation of the whole Haier industrial park,” said Taliya Minullina, the Head of the Tatarstan Investment Development Agency.

It is believed, that the project will come into fruition during the period from 2019 to 2022.

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