Thursday, Jun 20 2024 | Time 23:25 Hrs(IST)
Business Economy

KuibyshevAzot Engineering Plastics inaugurates its first Indian production unit in Sri City

Sri City (Andhra Pradesh), May 29 (UNI) KuibyshevAzot Engineering Plastics India Private Limited, a subsidiary of the Russian conglomerate PJSC KuibyshevAzot, announced on Wednesday that it has inaugurated its production plant in Sri City, an integrated business city and special economic zone.
The facility was inaugurated by Mr. Oleg N. Avdeev, the Russian Consul General in Chennai, Mr. Aleksandr Gerasimenko, Managing Director, Mr. P.B. Ramesh, Director, KuibyshevAzot (Sri City), and Dr. Ravindra Sannareddy, Founder and Managing Director of Sri City.
Speaking on the occasion, Mr. Avdeev expressed his admiration for the industrial park’s standout features and business-friendly environment.
He conveyed his satisfaction with KuibyshevAzot’s decision to set up their facility in Sri City, a choice influenced by his endorsement, and extended his best wishes for their venture.
Mr. Gerasimenko said the new state-of-the-art facility, sprawled over 3 acres with an initial outlay of Rs. 95 crores, is set to employ over 50 skilled technicians, with plans to expand the workforce in the future.
Boasting an initial annual production capacity of 15,000 metric tonnes with plans to double, the plant serves a prestigious clientele, including top automotive manufacturers like Tata, Mahindra, Maruti Suzuki, and key players in the Indian Railways and defence sectors, as well as electrical industry leaders such as Siemens, Schneider, and Godrej, he said.
This venture is a strategic extension of KuibyshevAzot’s global footprint, complementing its existing facilities in Russia, Germany, and China, and is strategically positioned to leverage the growing Indian market, thereby bolstering economic progress, he added.
Dr. Ravindra Sannareddy expressed excitement about KuibyshevAzot Engineering Plastics joining Sri City’s dynamic industrial ecosystem, noting it as the first Russian client company in the region. He acknowledged the Consul General’s recommendation and anticipated more Russian firms to follow.
“This being the fourth company in SriCity in the engineering plastics sector, we are certain that their presence would foster a symbiotic ecosystem in Sri City, which is home to the automotive, electrical, electronics, and consumer goods sectors,” he added.
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