The expert council of the Industrial Development Fund (FRP) approved for the Yoshkar-Ola shoe factory (Mari El) LLC a preferential loan of 88,8 million rubles. The funds will be used to modernize production for the production of protective shoes made of polyvinyl chloride (PVC) of up to 200 thousand pairs per year, according to a press release from the FRP.
The company plans to spend the funds on the purchase of an injection molding machine for the production of PVC shoes and an automatic cutting machine for materials. The total project cost is 184,8 million rubles.
Safety shoes made of PVC - a new type of product for the factory, currently the company produces leather shoes. Installation and commissioning of the equipment are planned for the III quarter of 2020, the start of mass production - for the IV quarter of 2020. The FRP provides the factory with a soft loan under the Development Projects program, the interest rate of which will be 3% per annum in the first three years, and 5% in the remaining two years.