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A Chinese company is going to establish in the Ulyanovsk Region a hi-tech production facility to be fueled by $1.5 billion of investments.
Chinese to manufacture medical equipment in Ulyanovsk Region
A Chinese company is going to establish in the Ulyanovsk Region a hi-tech production facility to be fueled by $1.5 billion of investments.
On the 26th of August, Sergey Morozov, a temporary acting Governor of the Ulyanovsk Region, Sergey Vasin, the CEO of the Regional Development Corporation, and Chzhan Zinfu, the Chairman of the Board of Directors and CEO of Jonoon Hunian Holding Company, signed an agreement providing for the creation of a medical equipment facility in the Region.
According to the signatories, ID Shidai Beijing Trading Corporation will deal with the construction of the facility and deployment of advanced technology solutions. Jonoon Hunian Holding Company will act as the project's investor. The total amount to be invested in the project will total at least EUR 1.5 billion. The project is going to be implemented in several stages. The first stage, which is going to take a year and a half, contemplates the construction of a facility to manufacture magnetic resonators, color display ultrasonographic devices, digital monitoring and other medical equipment. At the second stage, the investors intend to expand the production capacities while the third stage contemplates the construction of a research and technology development center to manufacture medical equipment. The new facility will be hosted by a special economic zone.
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