13:03 GMT +321 July 2018
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    Construction of industrial park underway in Kaluga

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    KALUGA, December 27 (RIA Novosti). A large industrial park, Kaluga-Yug, is being established in the southern part of Kaluga, specially tailored for the Volkswagen Kaluga project. The Kaluga-Yug industrial park is designed to accommodate facilities for car parts production at Volkswagen Kaluga.

    Kaluga Mayor Maxim Akimov said the first contracts had already been signed with Western investors, and at least two foreign companies had already announced their intention to locate their production facilities there. "There are several other interesting investment proposals; however, we are now involved in negotiations and therefore are not disclosing the investors' names," Akimov said.

    The industrial park will occupy 13 million square meters, and there are plans to build some 10 industrial enterprises there. Potential investment may amount to $300 million.

    Another project may also be developed in Kaluga. Pravgorod housing development will be built in southwest Kaluga on the right bank of the Oka River. Low rise houses for about 50,000 people will occupy 90 million square meters. The residential area will accommodate potential employees of the new enterprises.

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