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. Last Updated: 07/27/2016

Regional Economic Digest




Reconstruction of the polished glass producing equipment terminated at "Borskiy glass works."

The reconstruction was completed pursuant the agreement on cooperation in reconstruction of the Borskiy glass works signed with the company "Glaverbel" (Belgium) in 1997.

"Nizhegorodskiye Novosti" (Nizhniy Novgorod), 05.09.2000

Lindovskaya poultry factory started operation after 3-months standstill.

The recent standstill was a measure of necessity. After the factory's equipment has been brought to conformity with the world standards, the factory achieved the remarkable results. Each broiler gave a considerable increase in weight and the livestock integrity index made 97%.

"Nizhegorodskaya Pravda" (Nizhniy Novgorod), 05.09.2000


Grain harvest in Samara region has entered the terminal stage.

By September 4 grain was harvested at 880 thousand hectares out of 1,223 thousand hectares (at ? of the sown area). The daily capacity of agricultural harvesting machines reached 32 thousand hectares per day. 22 areas started harvesting buckwheat and millet, which are considered late harvested crops.

The average yield is 15.5 centners from hectare.
The sowing for the winter season has been finished at 361 thousand hectares out of 500 thousand. 29 thousand hectares in Bolshechernigovskiy district, 22.5 thousand hectares - in Bolsheglushitskiy, about 20 thousand hectares in Krasnoarmeiskiy distric are occupied by autumn crops.
Winter tillage areas are ploughed at 228 thousand hectares out of 1,500 thousand hectares.

"Volzhskaya communa" (Samara), 05.09.2000


A meeting devoted to expanding cooperation between "KamAZ" and the companies of Bashkortostan was held in Naberezhniye Chelny.

This was the response visit of the higher executive authorities and the representatives of business circles of the neighboring republic. The first meeting of "KamAZ" representatives with the partners from Bashkortostan took place on July 20 in Ufa.
The sides of the talks signed a protocol, which specialized the decisions made at the meeting in Ufa on July 20. Thus, taking into consideration the plans of Kama automobile factory (KamAZ) to raise output of the main products to RUR 10 billion in the second half of 2000, the opportunities for production and the needs of the enterprises in Bashkortostan, KamAZ and partners ("Avtonormal", "Hydraulica", "Salavatsteklo", "Ishimbaitransmash", "Sterlitamak-???", concern "Inmash", "Tuimazinskiy factory of concrete lorries" and "NefAZ") achieved an agreement in product deliveries in the required volume and quality.
Thus, pursuant the programs for cooperation, subsidiaries of "KamAZ" - Kamskiy casting and pressing factories - undertook deliveries of high-quality cast and pressed products, rigging and spare parts, traditionally manufactured in Tatarstan, to their partners in Bashkortostan.

"Respublica Tatarstan" (Kazan), 05.09.00


Volgograd regional administration signed a protocol for complex medical facilities deliveries with investment company FIN MEC Finanziaria Mercantile srl (Italy).

Starting from October this year medical equipment at the total cost of $40 million will be delivered to the Volgograd region pursuant the governmental agreement on commercial credit, which was not used by Russia in 1998-1999.
According to Nikolay Maksiuta, head of the local administration, the credit for acquisition of medical facilities has been granted with the maturity period of 10 years. The payments will be effected after the last lot has been delivered. Within 6 months after receipt of the goods the Russian side will make the first return payment. The funds for repayment have been allocated in the regional budget.
Due to its stable economic growth and increased budget payments the Volgograd region was the first subject of the Russian Federation, included into the governmental agreement.

"Noviye deloviye vesti" (Volgograd), 05.09.2000

Volgograd meat factory started reorganization.

The idea to create a public company at the basis of the "Volgograd meat factory" (VMK) gained a true meaning. In present the necessary documents are being elaborated and the new bylaws are being worked out. Establishing of the public company is the first step of the general program for rehabilitation of the meat factory.
Pursuant the program VMK will be the head company, owning the fixed and circulating assets. The company retains its present liabilities against the creditors, partners, stockholders and employees.
All the actions pursuant the program are aimed at stabilizing the state of the factory, lower the production costs to 30% and obtain a RUR 2.5 million profit on a monthly basis. The plans estimate that the factory will be able to fully repay its creditors' debts within 3-4 years.

"Noviye deloviye vesti" (Volgograd), 05.09.2000


The foreign investment into the region exceeded $40 million.

In the first half of 2000 Perm region obtained $40.1 million of foreign investment, up 4.5 times over the first half of 1999: 83.4% thereof were received from the USA, 11.9% - from Israel, 2.3% - from Germany.
Direct investments (shares in the authorized capital, credits from foreign co-owners) made 36.5%, portfolio investments made 0.3%, trade and other credits amounted to 63.2% from the total volume of foreign investments.
Investments into the regional fuel industry amounted to $18.5 million, mechanical engineering - $13.3 million, communications - $3.1 million, other industries - $4.7 million; investments into trade and public catering totaled to $0.1 million, transport - $0.1 million.

"Noviy companion" (Perm), 05.09.00

"Proton-PM" reported economic results for the first half of 2000.

In the first half of 2000 the balance profit of "Proton-PM" amounted to RUR 52.8 million, up RUR 14.15 million from the first half of 1999 (RUR 67 million).
Some minor slide in the economic performance is mainly attributed to several contracts, frozen after two unsuccessful launches in the beginning of 2000. In present the contract are renewed.
The company's debt decreased from RUR 130.1 million to RUR 118.8 million since the beginning of the year, the company's receivables decreased from RUR 309.468 million to RUR 299.2 million.

"Noviy companion" (Perm), 05.09.00


The 10-th round of licensing of the legal and physical entities for the right to use the natural resources of Yamal-Nenets autonomous area started in Salekhard.

The regional administration offered twelve perspective licensed sites for prospecting, additional prospecting and extraction of hydrocarbon materials. The sites are located in the Nadymskiy and Purovskiy districts.
14 companies participate in the bid. These companies participated in the tenth round of licensing, held on August 2. The following companies should be specially noted among the bid participants: "LUKoil", "RITEK", "Sibneft-Noyabrskneftegaz", "Tekhneftinvest", "Severneft", "Novafininvest", "Surgutneftegaz". Some of these companies enter the regional oil extraction area for the first time. The expert committee is headed by Valentin Shelepov, deputy minister of the natural resources of the Russian Federation.

"Tyumenskaya pravda segodnya" (Tyumen), 05.09.2000


In the first half of 2000 the volume of foreign investment into the regional economy decreased twice over the first half of 1999.

The above data was announced by the Novosibirsk regional committee on statistics. In the first six months of 2000 the total scope of investment amounted to $39.4 million. The main portion of investment has been directed to the food industry (86% from the total investment).

"Vecherniy Novosibirsk" (Novosibirsk), 05.09.00


Krasnoyarsk aluminum smelters announced economic results for the 7 months of 2000.

In the seven months of 2000 Krasnoyarsk aluminum smelters raised production of raw aluminum by 5,080 tons over the similar period of 1999.
The total sum of tax payments effected by the factory increased 1.7 times over the seven months of 1999.
The portion of high-grade in the total 492,087 tons of raw aluminum produced by the factory is 88.6% (87.48% in the seven months of 1999).
In the seven months of 2000 the total amount of tax effected to the regional and local budgets reached RUR 1,088,470 thousand. The factory effected RUR 394,296 thousand to the Krasnoyarsk municipal budget. The factory boasts duly tax payments avoiding the barter schemes.
Besides, the factory is acknowledged the major regional payer to the non-budget funds. Thus, from January to July 2000 it effected RUR 204,065 thousand to the local road fund, RUR 47,678 thousand - to the federal road funds, RUR 240,646 thousand to the pension fund, RUR 12,941 thousand to the employment fund, RUR 31,060 thousand - to the medical insurance fund.

"Comok-Companion" (Krasnoyarsk), 05.09.2000


Azeiskiy coal open mine remains one of the major mines of Vostsibugol.

In present the average extraction volume at the open mine amounts to 4.5 million tons of coal. This is the best result among those reported by the regional coal companies.
The company set its main target at the opportunities of its production base, buyers' demand, economic effectiveness. The company's plans stipulate remaining at the same level of coal extraction. Despite of the severe economic conditions, the company's management continues construction and development of its production base. Thus, it develops new coal extraction sites, erects power supply lines, sub-stations and modernizes the equipment. A part of the company's profit is invested into construction of social objects and dwelling.

"SM Number One" (Irkutsk), 05.09.00


Four leading South Korean factories showed interest in cooperation with "Energomash-Bor."

The representatives from four well-known South Korean factories - consumers of boron products ("Vetrotex", "Hanglas", "Kumgang Korea Chemical" and "Kangnam indastrial") visited Dalnegorsk to familiarize with the opportunities offered by "Energomash-Bor" - the Russian monopoly producer of boron products.
Some of the South Korean companies have already used the products made by the factory and distributed by company "Kangnam". The main boron products supplier to the South Korean market is the American "Borax" (together with some Turkish companies "Borax" is one of the world leaders of boron products). In present the Korean party is considering deliveries of boron products from the Far East, while they are coupled with lower prices and shorter delivery time.
Besides, the Russian products correspond to the international quality requirements.By the end of the year "Energomash-Bor" will obtain an international quality certificate issued by "Tuf nord" (Germany), working in the European and East European markets.
The visitors were content with the factory's high-tech equipment and admitted that the current production corresponds to the international requirements.

"Vostok-Media" (Vladivostok), 05.09.00

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