The agreement to build the plant Fuyao Glass signed with the government of the Kaluga Region, told "Vedomosti" Regional Economic Development Minister Ruslan Zalivatsky and assistant general director of the plant, Alexander Ho. The Chinese are investing in the project $ 200 million, the region will provide the company with engineering services and other infrastructure, they say.
Float glass — semi-finished products for the production of auto glass — Fuyao Glass will supply with their Chinese enterprises aide said Zalivatsky Dmitry Abramov. In the future, he said, Fuyao Glass can build a plant for the production of float glass in Russia. Yao confirmed that the company can make such a decision, if the project is successful Kaluga.
Fuyao Glass receive resident status of the industrial park "Grabtsevo" and the statutory exemptions for property tax and income tax, he said. Residents' Grabtsevo "are already Volkswagen Rus and component manufacturers — LLC" YAPP Russian automotive systems ", JSC" Magna Tekhnoplast. "
According to Yao, the conditions proposed by the Kaluga region, staged Fuyao Glass — a new site for the plant, they were not considered.
Russian enterprises Fuyao Glass plans to sell "AvtoVAZ», Volkswagen and other Russian car factories, said Yao. The Chinese company already supplies the glass in Russia. For example, "AvtoVAZ" she buys more than 120 000 sets of auto-glass a year, Hyundai car factory in St. Petersburg — more than 80,000 sets.
The payback period of the project by not known. According to the asset manager BCS Nicholas Solabuto, the investment can be recouped within two to four years after the plant reaches full capacity. The main competitor Fuyao Glass factory in Russia is Mitsubishi, which manufactures car at Bor Glass Plant in Nizhny Novgorod (Asahi Glass Co). Contact with the Asahi Glass Co yesterday failed. According to the company, it supplies 70% of auto-glass Russian automakers.
Fuyao Glass Corporation is actively cooperating with well-known foreign enterprises in China, as: GM, Audi, Volkswagen, Mitsubishi, Honda, Toyota, Mazda, Isuzu, Citroen, Hyundai, Ford.