SKF to build 75 million euro bearing plant in the Tver Region


TVER, June 10 (RIA Novosti) - The Swedish firm SKF intends to build a bearing plant in the Boroblevo-2 industrial zone in the Kalininsky district in the Tver Region, a spokesperson for the region's administration told RIA Novosti on Tuesday.

"A protocol of intention to build a new plant worth 75 million euros was signed today by the administration of the region and the investors' representatives. The project is to be implemented in three stages. After the plant begins working to full capacity in 2012, 450,000 bearings worth more than 5 billion rubles will be produced in Tver every year," said the spokesperson.

He said that 750 new jobs would be created at the new plant.

Founded in Goteborg in 1907 by Sven Vingqvist, the inventor of the self-aligning ball bearing, today SKF is the world leader in bearing production and comprises nearly 100 plants and trading companies in 140 countries.

The Russian subsidiary of SKF was founded in 1991. Today it has branches in Moscow, St Petersburg, Krasnoyarsk, Vladivostok and Magnitogorsk.

Since 2007 work has continued in the Kalininsky district of the Tver Region with the active involvement of the regional administration to build the Borovlevo industrial zone, which is now conditionally divided into the Borovlevo-1 commerce and logistics zone and the Borovlevo-2 industrial zone.

Five companies have confirmed their operation in Borovlevo-2: Minerit of Finland, BiG, Rasec Vostok of France, Internet Resheniya ( and PPE Group France), and Paulig of Finland. SKF will be the 6th resident in the zone.

The companies are expected to invest more than 3.8 billion rubles in the zone.

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