The authorities of the Chelyabinsk region have approved the investment project on the construction of a founding and mechanical plant with the participation of the joint Russian-Czech Kovosvit enterprise.
The new facility will be located in the industrial park of the city of Magnitogorsk in the Chelyabinsk region, the regional press office told Construction.ru.
The industrial park will allow the project to get additional tax benefits and become more attractive to investors.
Magnitogorsk is an industrial city in the Chelyabinsk region. It was named after Magnitnaya Mountain, consisting of pure iron. Magnitogorsk Iron and Steel Works, the third largest steel enterprise in the country, is located in the city.