Vnesheconombank injects funds into Saratov Industrial Glass Plant

VEB has launched disbursement of funds to JSC Saratov Institute of Glass for the upgrade of glass manufacturing facilities. The project will boost the plant's capacity from 150 to 350 tonnes per day and will enable manufacturing of new products. As a result, the annual output is expected to reach 10.2 million sq m. VEB’s commitment approximates RUB1bn.

As set out in the strategy, VEB’s activity will facilitate achievement of a wide range of government’s goals in social and economic development, including import substitution. In some sectors, Vnesheconombank’s projects will allow to reduce dependence of the Russian market on import supplies.

“Products manufactured by Saratov plant are one of a kind. There are no other facilities manufacturing glass of this type in Russia, Saratov Institute of Glass is the sole manufacturer of special glass. The reconstruction of the existing facilities will help increase the plant’s output. The products will be made available on the open architectural and structural glass market. The institute can ensure full import substitution,” said Dmitry Kurdyukov, Vnesheconombank’s First Deputy Chairman - Member of the Board.

Special glass (tinted, in bulk tinted, colourless glass with high light transmittance factor and strength) is used in aviation, transport, construction, industrial processing and furniture industry.

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