Bank Petrokommerz will soon provide the money needed to pay the wages owed to the former workers of Verkhnyaya Sinyachikha Metallurgical Plant (a subsidiary of OOO Nigmas). Such was an agreement that the bank and Sverdlovsk Region authorities came to. The region’s Prime Minister Denis Pasler held challenging talks with the owner of Nigmas’s Verkhnyaya Sinyachikha subsidiary and Bank Petrocommerz. ‘The arrears in wages to the plant’s employees have been paid in full, and some of the workers have already been compensated for the layoffs. It has been agreed by now that Bank Petrokommerz will

Yekaterinburg winery used to illegally place Sverdlovsk Region’s coat of arms onto the labels for is Yekaterinburg Vodka. Sverdlovsk Region Government took the case to court and made the wine manufacturer pay an administrative fine; the sum (around 1,000 RUR) is insignificant, but the government feels that this will teach every other for-profit company a lesson, Oblastnaya Gazeta reports. Sverdlovsk Region Emblem Committee Chairman Mikhail Zubarev explained that everything started with a query the committee had sent to the plant in order to understand what grounds the wine maker had to use

Despite the lack of stability on the global economic arena, investors feel optimistic about Russia’s long-term investment appeal. The country’s abundant natural resources, its growing consumer market, highly skilled workforce, and the recent entry to the WTO make Russia a promising investment object for the coming decade. Despite a lot of red tape and the underdeveloped infrastructure, which are still two worrying factors, most investors feel that Russia has made a step forward and does not lag behind the other rapidly growing markets as much as it used to. The country’s investment appeal

OOO Ural Locomotives has put up the first framework connecting the two supporting pillars of the would-be department meant for the production of Desiro RUS (Lastochka) electric trains. This means the construction of the main structure for the new production facility has begun, Uralvagonzavod Corporation’s press service reports. Builders will have to put up nearly 9,500 tons of metal frameworks and to assemble the wall panels in the second half of September so as to finish the main structure by the end of the year. A former warehouse is being reconstructed at the same time: it will house the

On the eve of the Trooper’s Day, a memorial plaque dedicated to one of UVZ Corporation’s Ural Design Office of Transport Machine-Building’s most famous designers and the father of the Russian Army’s primary combat tank T-90 Vladimir Potkin was unveiled in Nizhniy Tagil, Uralvagonavod Scientific & Production Corporation’s press service reports. Vladimir I. Potkin is a cult figure not only for the corporation but for the world’s tank industry on the whole. He chaired Ural Design Office of Transport Machine-Building in 1987-1999 and supervised work on the gearing system and the running gear