OREANDA-NEWS.  June 10, 2014. SME Bank (Vnesheconombank Group) has provided via its subsidiary – Closed Mutual Investment Fund Modernization. Innovations.

Development and MIR Management Company – financial support for RUB 110 mln to KOLTEK-KAMA for establishing in Nizhnekamsk a production facility for assembling and recycling of used automotive tires and production of high-tech composite, structural and rubber-polymeric materials.

“The Republic of Tatarstan pays close attention to development of small and medium business, establishing state-of-the-art production facilities on its territory. A new project enables to solve the problem of recycling of used automotive tires, it contributes to economic development of the region and new jobs creation”, said Peter Tarasov, Deputy Chairman of the Board of SME Bank