Sverdlovsk Region Government is planning to set up a technical innovations launch center for metallurgy and heavy engineering on the basis of a number of scientific research institutes. The agreements to this extent have been reached with Russia’s Economic Development Minister Andrei Beloussov, the Government’s PR Administration reports.

‘Today, metallurgical enterprises working on modernization are opting for multi-faceted, multi-purpose projects that range from design, production and assembly of equipment to after-sales services to personnel training. Such projects are mainly offered by foreign companies at the moment. We are planning on setting up a Russian enterprise that could take up this niche,’ says Sverdlovsk Region Vice Premier Alexander Petrov.

He emphasized that the center should operate under the principle of a full-cycle engineering company.

At the first stage of the project, a national-level open joint stock company called Metallurgy & Heavy Engineering Technical Innovations Center, with the Russian Federation Government being the controlling shareholder. Then, the state-owned shareholding is expected to be handed over to Sverdlovsk Region Government, institutes, and private investors.