The decision to issue the loan was made by the Moscow Fund for Support of Industry and Entrepreneurship.
“The RUB 300 mln given to Netkanika will be used to expand the existing and create new production of nonwoven materials with high barrier properties. The resulting investment project will provide the Russian market with such materials as spunbond, meltblown and spunmelt to be used to make disposable personal protection equipment: masks and protective outfits for medical personnel, children and adult hygienic devices. Additionally, the increased production will lower the dependence on similar imported products. The total investment will be RUB 429 mln, where RUB 129 mln are the company’s own funds,” the Deputy Mayor announced.
Netkanika LLC is one of the country’s largest manufacturers. The company currently produces over 1 billion square meters of nonwoven material per year.
“It is expected that as a result of implementing the project, Netkanika’s revenue will increase by over 20% compared to 2020, while the tax deductions to the capital budget during the loan period will exceed RUB 240 mln. Additionally, about 25 new workplaces will be created at the enterprise,” noted the head of the Department of Investment and Commercial Policy Aleksandr Prokhorov.
“We are grateful to Moscow’s leadership for supporting the project to increase the production and expand the product range of nonwoven materials for the needs of children, adult hygiene and medicine. The designing has been completed, some of the main equipment has been installed at the plant, work on the project is on schedule. Moscow enterprises will receive additional nonwoven materials under the project already this year,” added Rifkat Galimzyanov, CEO of Netkanika LLC.