OREANDA-NEWS. February 18, 2011. The Russian Bank for Development and National Trade Bank proceeded with financing of a modernization project “Organization of a Serial Production of Plastic” in the Samara Oblast, reported the press-centre of RBD.

Under the three-party agreement National Trade Bank will bring the RBD’s funds for modernization of Tolyatti Plastic Plus (the Samara Oblast, Tolyatti). The credit resources worth RUR 70 million with a 6-year maturity are provided to national Trade Bank under Financing for Innovations and Modernization Program. The total funding will reach RUR 88 million, 18 million of which are own funds of Tolyatti Plastic Plus.

The initiator of the project –Tolyatti Plastic Plus was founded in 2003. Today the company produces 164 names of plastic consumer goods. The manufacturing capabilities of the company enable to process about 3 thousand tones of raw materials per year.

This project implementation involves modernization of the production including complex measures aimed at improving technical-economic indicators of the fixed assets by introducing up-to-date equipment. In particular the company intends to purchase die-casting machines: automatic molding machines - injection-molding machines. New equipment is energy saving, it consumes 80% less power than the old equipment and speeds up the production rate. The plant is equipped with advanced controlling systems.

The RBD’s Financing for Innovations and Modernization Program was designed to provide affordable and long-term funding to SMEs implementing innovative and modernization projects in different industries.