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VEB.RF and Major Chinese Construction Conglomerate to Build Industrial Park in Kaluga Region

19 june 2025 года
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The respective agreement was signed today on the sidelines of the St. Petersburg International Economic Forum between the Kaluga Region, VEB.RF and one of the largest Chinese construction conglomerates.

The parties are selecting key areas for developing an industrial park of construction materials, such as primarily environmentally safe construction materials and new inorganic non-metallic materials.

“For us, this is a much-anticipated event. The plant will produce up to 3.5 million tonnes of cement per year, with production capacity having potential to double. There are only a few such plants in Russia. We have been looking for strategic partners capable of finishing the project for a long time. Due to VEB.RF’s involvement we can not only restart the construction of a high-technology enterprise, but also talk about creating an industrial park of construction materials. I would like to thank Igor Shuvalov for personal support of the project, for attention paid to the Kaluga Region and for effective solutions that will bring our industry to a new level. I am most grateful to our Chinese friends for promoting the development of technological and industrial cooperation between our two countries. Principles underlying Russia-China relations include good neighbourhood, mutual help and support as well as friendship between the two nations. It has been proved by our joint work,” said Governor of the Kaluga Region Vladislav Shapsha.

The Governor also specified: “The plant will contribute to developing the construction sector. The project will also create permanent jobs, foster the development of new technologies and ensure economic diversification of the region. For Duminichsky District, the project will increase tax revenue, lay the foundation for resolving social issues and give a strong impetus for regional development and improvement of quality of life. We will arrange all the necessary conditions for successful implementation of our plans.”

“VEB.RF gives a sharp focus to developing and financing of industrial production in Russian regions. The Kaluga Region is a flagship of major implemented projects. We would like to express our gratitude to our Chinese partners and the Government of the Kaluga Region for supporting business initiatives and hope for long-term and fruitful cooperation in plant construction and creation of the industrial park for construction materials,” said VEB.RF Deputy Chairman Alexander Tarabrin.
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