China's Beijing Dingshang Science and Technology Co., LTD will be the main investor in a project to build an industrial park, Southern Gates, in Kommunar in the Gatchina district of the Leningrad Region (outside St. Petersburg), the press service of the governor and the local government said.
The Southern Gates project has been approved by an interdisciplinary commission for productive power in the Leningrad Region. Investment in the project has been estimated at about 5 billion rubles.
The project will be funded by the Southern Gates limited company representing Beijing Dingshang Science and Technology. Other investors include credit organizations and also equity participation of the companies involved.
"The 100-hectare industrial park in the eastern part of Kommunar will house enterprises with risk levels of III, IV and V. These include companies manufacturing automobiles, buses and agricultural equipment, as well as wood processing, light and food industry enterprises," the press service said.
The project will have two stages. During the first 1-3 years, the area will be prepared, the current infrastructure will be upgraded and new facilities built. The second stage of 4-5 years includes construction of manufacturing, logistics and administrative buildings along with engineering infrastructure.
The investors said the project would create 3,000 jobs.