December 29, 2006
Author: Roman Vvedensky, BISNIS representative in Nizhny Novgorod, Russia
INTERNATIONAL
COPYRIGHT, U.S. & FOREIGN COMMERCIAL SERVICE AND U.S. DEPARTMENT OF STATE,
2006. ALL RIGHTS RESERVED FOR USE OUTSIDE OF THE UNITED STATES.
The report summarizes commercial, political and business development news in the Nizhny Novgorod region, and Republic of Tatarstan for December 2006. The information is received from the Russian news agencies (INTERFAX, AK&M, NTA), TATAR-INFORM.RU, INTERTAT.RU, REGNUM.RU, regional periodicals, PR departments, and web-cites of the regional governments and local companies.
The report highlights:
Nizhny Novgorod Region:
·
U.S. Department of Commerce mission visits Nizhny
Novgorod
·
S&P awards
BB- rating to Nizhny Novgorod
·
FIAT and Severstal-Auto announce US$ 100 million
investment project
Republic
of Tatarstan:
·
Schneider Electric to invest Euro 10 million in its
plant in Tatarstan
·
KAMAZ truck company considers US$ 1.9 million
re-engineering project
U.S. Department of Commerce mission visits Nizhny Novgorod
The mission of the U.S. Department of Commerce visited Nizhny Novgorod on December 15. The mission was led by Robert C. Cresanti, U.S. Under Secretary of Commerce for Technology, who previously took part in the meeting of the U.S.-Russian Innovation Council on High Technologies in Moscow as a co-chairman.
During his visit to Nizhny Novgorod, Mr. Robert C. Cresanti met with 1st Vice-Governor Viktor Klochai, and attended two events with participation of local hi-tech companies and universities, large industrial enterprises and research labs. The agenda of the visit included presentations of local hi-tech projects i.e. a techno-park and a cancer research center.
S&P awards BB- rating to Nizhny Novgorod
Standard & Poors awarded the city of Nizhny Novgorod with BB- long-term credit rating with a forecast ‘stable’.
The city budget was executed with US$ 1.2 million surplus in 2006.
FIAT and Severstal-Auto announce US$ 100 million investment project
FIAT and Severstal-Auto announced US$ 100 million investment in a joint project. The project provides for assembly of F1A diesel engines in the premises of ZMZ motor plant, owned by Severstal-Auto and located in the city of Zavolzhye, Nizhny Novgorod region.
The design capacity of the joint venture is 90,000 motors annually. The new plant will be launched in early 2008, and it will produce motors for FIAT Ducato cars, assembled by Severstal-Auto in Tatarstan, and motors for UAZ-Patriot SUVs (sports utility vehicles), produced by the Ulyanovsk Automotive Plant, another asset of Severstal-Auto in the Volga region.
Schneider Electric to
invest Euro 10 million in its plant in Tatarstan
The government of Tatarstan, the local electricity company Tatenergo, and Schneider Electric signed a memorandum of understanding in Zurich on December 11.
According to MOU, Schneider Electric plans to invest Euro 10 million to produce average voltage electrical equipment at its plant in Tatarstan. Schneider Electric also plans to set its service and training center in Kazan.
KAMAZ truck company
considers US$ 1.9 million re-engineering project
According to Interfax news agency, KAMAZ has developed US$ 1.9 million re-engineering project.
The project provides for a sharp increase in labor intensity and energy saving. The project was developed jointly with German experts to modernize the production equipment, to optimize the existing facilities, and to improve logistics at the company.
For more information on Upper Volga region, Russia, visit
BISNIS online at http://www.bisnis.doc.gov/bisnis/country/volga.cfm
BISNIS (www.bisnis.doc.gov)
is part of the U.S. Commercial Service (www.export.gov).