Italian company expands its capacities in the Moscow Region

The Moscow Region's Ministry of Investments and Innovations and LLC Kerama Marazzi have entered into an agreement to implement the Italian company's top priority project in the Moscow Region.

Italian company expands its capacities in the Moscow Region

The Moscow Region's Ministry of Investments and Innovations and LLC Kerama Marazzi have entered into an agreement to implement the Italian company's top priority project in the Moscow Region.

Kerama Marazzi's investment project is intended to create Malino-4, a technological production compound, to produce ceramic granite in the Stupino District, Moscow Region. The technological compound will become part of Kerama Marazzi's corporate production facility, thus allowing to increase its capacity from 6,000 to 9,000 square meters of output p.a. Its commissioning is scheduled for the 1^st quarter of 2017. "The capacity expansion initiative is an important indicator of the investment climate policy pursued by the Regional Government. More specifically, pursuant to the agreement, Kerama Marazzi will benefit from a tax privilege providing for a 4.5% reduction of corporate profit tax for five tax periods. The total amount to be invested in the project will be RUB 1.36 billion with 44 additional job opportunities being created offering an average monthly salary of RUB 43,000", Denis Butsaev, a Deputy Chairman of the Moscow Region Government and Moscow Region's Minister of Investments and Innovations, said.

Kerama Marazzi's ceramic tiles plant in the Stupino District has been operating since 2006 with total investments into the project having exceeded RUB 5 billion and 350 new jobs having been created.