The Chinese, together with Timchenko, will produce machines in Russia

The Chinese Corporation Dalian Machine Tool Group (DMTG) will be engaged in the production of turning machines in Russia together with businessman Gennady Timchenko. The newspaper "Kommersant" writes about this in the issue of April 18 with reference to the data of the Ministry of Industry and Trade.

According to the ministry, DMTG will create a joint venture with Russian investors and organizes the production of high -precision machines at the capacities of the Gazdevays plant controlled by Timchenko in the Moscow Region. Now gas meters are produced at the enterprise.

According to the conditions of cooperation, the Chinese side will have 49%in the joint venture, and Grasedevais - 51%. Until 2020, it is planned to invest 11 billion rubles in the project. In addition, the capacity of the plant near Moscow should be five thousand machine tools per year. In 2017, 1.5 thousand machines should be produced at the enterprise.

DMTG Corporation was founded in 1948. This is the largest machine -building company in China, one of the largest manufacturers of metalworking equipment in the world. Gazdevays belongs to Stroytransgaz-Invest, which controls Timchenko.