The Industry and Trade Ministry, the Sverdlovsk regional authorities and Cybersteel LLC have signed a special investment contract (SIC) to implement the Modernization of Production of Seamless Cold-Deformed Stainless Steel Pipes project.
Under the SIC, the company receives guaranteed stable business conditions, tax benefits and other preferences. In turn, the company commits to implementing the project.
Investment in the plant’s expansion totalled RUB 12 bn.
With the launch of the new production, the company intends to expand its range of tool, heat-exchange and general-purpose pipes for high-tech industries, as well as increase output of steam generator pipes for NPPs.