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Ulyanovsk region attracts 3 billion roubles in investments

August 25, 2011, 18:34 UTC+3
Experts said the investment climate and economic policy of the Ulyanovsk region are among the most advanced in the country
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ULYANOVSK, August 25 (Itar-Tass) — The Ulyanovsk region authorities on Thursday announced the timeframe to implement another large investment project worth 3.3 billion roubles. A large confectionary will be built in the province in May 2012.

It is a project by Mars, Inc. The building has already been put up, and assembly and precommissioning works began on Thursday, the press service of the regional administration told Itar-Tass.

Experts said the investment climate and economic policy of the Ulyanovsk region are among the most advanced in the country. Investors willingly bring their capital to the province.

Earlier, Mars built a 1.3-billion-rouble factory to produce pet food. It has created 100 new jobs there since January 2010.

The factory has produced more than 2,000 tons of products which are sold in the Volga, Central and Ural Federal Districts.

In 2010, Mars paid 49.8 million roubles of taxes to the regional budget.

According to the regional governor, the province will surpass the average Russian level of socio-economic development in a majority of branches of the economy.

Sergei Morozov estimates that by 2014, the pre-crisis Gross Regional Product will be exceeded by 18 percent, while other Russian provinces will only be able to boost it by 13 percent.

It is planned to attract at least 46.7 billion roubles of investments in fixed assets, and by 2014, their volume is expected to reach up to 66 billion roubles.

Some 222 billion roubles will be attracted to the regional economy in four years.

Specialists believe that the industrial production index, the key development indicator, will increase by 6 percent this year from 2010.

The agricultural sector's gross product is expected to be worth 25.5 billion roubles, up 152 percent from 2010. 

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