MOSCOW TIME: 25.04.2024 06:56:19
The South Korean company and Russian party have already developed a design package for a facility that will manufacture shut-off valves for petrochemistry. A site for the construction is being currently searched for.
South Korean Apollo Co. to launch production in Tatarstan
The South Korean company and Russian party have already developed a design package for a facility that will manufacture shut-off valves for petrochemistry. A site for the construction is being currently searched for.
The Tatarstan Investment Development Agency and Apollo Co., Ltd (South Korea) have executed an agreement to start the manufacturing of shut-off devices for petrochemical companies for some $10 million, according to the Tatarstan Investment Development Agency.
The new facility will initially be an assembly one as it will be used to assemble shut-off devices for petrochemical companies. The facility is expected to eventually manufacture its own original parts which is required to establish full-cycle production.
Apollo Co., Ltd is a South Korean major manufacturer of a comprehensive range of shut-off devices and driving gear for oil refineries, petrochemical facilities, power stations and other branches of industry. The company makes and supplies its products to the countries of North America, West Europe and Middle East. The company cooperates with peers globally with Samsung being one of its key partners.
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