ST.PETERSBURG. Feb 27 (Interfax-AVN) - The Kirov Plant is planning to invest RUB400m (USD12.67m) into production this year, the plant's CEO Pyotr Semenenko told Interfax-Military News Agency on Thursday.
"We plan to invest RUB400m into production this year, which is 8% less than was spent on the technical restructuring program last year. Nevertheless it is possible to talk about the stabilization of the level of investments for some RUB300m (USD9.5m) were invested into production in 2001," Semenenko said.
He stressed that several new production technologies were planned to have been implemented by late this year along with purchasing new equipment.
"Moreover, a new system of economical consumption of electric power will be installed and help save RUB25m (USD792,142) this year," Semenenko noted.
Thanks to much attention being paid to the issue, the corresponding expenses of the enterprise grew as little as by 7%, even taking into account multiple increase of Lenenergo (regional power distributor - Interfax-AVN) rates, he pointed out. "This helps not to affect the products costs with those expenses and gradually enter the modern level of the electric power consumption," Semenenko said.
The Kirov Plant used to be the largest producer of battle tanks in Russia. At present it is more famous with its Kirovets tractors and other metal products made in converted shops. The plant is one of the largest exporters of civilian-use products in Russia.