The deal was closed on December 2 during a regional delegation’s visit to Denmark. The Danish company plans to build a factory producing dry and liquid mixes for the baking and confectionary industries.
The Ulyanovk Region already boasts successful experience in investment cooperation with Denmark. There are local projects by Hempel, a coating product supplier; Skamol, a manufacturer of high-temperature diatomite heat insulators, and Vestas that produces components for wind turbines, a unique project in power engineering.
Credin A/S will invest at least RUR 200 mio ($3.1 mio) and build a modern innovative facility in Zavolzhye Industrial Park in Ulyanovsk. The investor is about to start on the plant design.
Currently, 27 residents are implementing 35 investment projects on the territory of the industrial park. The projects have raised over RUR 44 bln ($688.6 mio) in total and created over 4K new jobs in the region.