MOSCOW. Aug 17 (Interfax-AVN) - Russia will stop importing machine tools at some point, Rostec head Sergei Chemezov said.
"It is obvious that it is impossible to substitute imports and launch high-tech productions without building machine tools. This is a basic economic sector, which creates opportunities for the development of other industries. [...] Investments in the cluster will near 460 million rubles by 2024," the corporation quoted Chemezov as saying on Friday.
The cluster will be centered on the Kovrov Electromechanical Plant, Chemezov said.
"A new workshop of 5,000 square meters is being built to broaden production of machine tools at the Kovrov Electromechanical Plant. The new workshop will commence operation in 2019. Given the new production facilities, the cluster will produce up to 650 modern machine tools per year," Rostec said.
A meeting on the removal of legislative barriers for diversification of defense plants is taking place in Kovrov in the Vladimir region on Friday.