Khimprom Special Economic Zone will open in Volgograd

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The Ministry of Economic Development of Russia has developed a draft resolution on the establishment of Khimprom, a SEZ of industrial and production type, in Volgograd. This is reported by TASS with reference to the press service of the Ministry.

“The SEZ is created for the renovation of the territory of Khimprom complex and the further development of high-tech innovative industries, the restoration of leading positions in the chemical industry, as well as large-scale modernization of existing capacities,” the press service of the ministry explained.

It is planned to create more than 800 jobs in the special economic zone, almost half of them until 2024.

“We have already received confirmation from five potential residents of their intentions to invest about 91.1 billion rubles in production in the SEZ over three years. The cumulative additional tax expected to the budgets of the Russian Federation from Khimprom SEZ should reach 16.7 billion rubles by 2032,” the Ministry of Economic Development added.

In particular, it is planned to implement investment projects in the new SEZ to construct plants producing methanol and technical media, as well as to organize the production of bioproteins, plant protection chemicals, and acetic acid.