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German group's factory launched in Lipetsk SEZ

A new factory has been launched in Lipetsk Special Economic Zone. OBO, a German group, has set up a facility to manufacture electrical engineering products in the special economic zone. The new production center is going to become one of the largest facilities of this kind, being the ninth site of the group. The amount invested in the project totaled RUB 2 billion plus.

The group's production center occupies 6 hectares. The total area of the factory is 20,000 square meters. The facility compound's design capacity is up to 5 ktpa of rolled metal products.

The group's CEO Ulrich Bettermann noted that despite the crisis events happening in the global and Russian economies and stagnation of prices for hydrocarbons, Russia's emerging trend of diverting from the resource economy model creates new opportunities for promoting knowledge-driven economy and establishing knowledge-intensive and technology-savvy production facilities.

OBO Bettermann sees potential for growth and manufacturing hi-tech equipment in Russia. The attractive conditions and preferences set for investors as well as close vicinity to main suppliers were the reasons for building the factory in Lipetsk production and industrial type special economic zone. The availability of own production facility considerably saves the company's resources, enables the use of a more flexible approach to pricing and logistics and helps to eliminate its dependence on the country's customs and sanctions policies.

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