KALUGA, March 27 - RIA Novosti. The Finnish company Kiilto Oy will build a factory in Maloyaroslavets, in the Kaluga Region, to manufacture dry construction compounds and industrial glues. Total capital investment will be 25 million euros.
A relevant contract was signed while Hari Helenius, the Finnish ambassador to Russia, was visiting the region, the Kaluga gubernatorial press service told RIA Novosti.
"The contract was signed on March 27, while the Finnish ambassador was on a working tour of the Kaluga Region. It envisions building a dry-compound and industrial-glue factory in Maloyaroslavets, with an annual output of 40,000 metric tons of compounds and 25,000 metric tons of glues. The money will be paid to the Kaluga Region in installments over nine years," a press service official said.
The site was chosen because of a rich deposit of construction sand nearby, he added.
"Kiilto, the company that will be in charge of construction, is registered in the Kaluga Region and will pay taxes to the regional budget. It will also assume the responsibility for building roads and communications, as previous contracts stipulate," the source said.
The factory will create more than 80 new jobs in Maloyaroslavets, he said.
Kiilto engages in R&D and manufacture of glues for many industries and construction fields, construction matrixes, putty, primer coatings, sealer compounds, parquet varnishes, water insulation materials, and substances and devices for cleaning and maintaining coatings.
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