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Residents of Kaspiysk Territory for Advanced Development to invest RUR 500 million in creation of production facilities

04 March 2020 21:09 Posted in:  BUSINESS
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Makhachkala, March 4, 2020. Dagestan authorities have entered into agreements with five companies that plan to implement investment projects in the Territory for Advanced Development (TAD) in the city of Kaspiysk for a total amount of about 500 million rubles, the first Deputy Prime Minister of the Republic Gadjimagomed Guseynov told is quoted as saying.

Following the results of meeting of the commission for consideration of applications for concluding agreements on implementation of activities in the territory of accelerated social and economic development “Kaspiysk”, it was decided to conclude agreements with five companies. The total investment portfolio under these projects made 500 million rubles.

As specified, among the projects planned to be implemented in the Kaspiysk TAD there are the creation of footwear production, the assembly production of gas stoves and the production of furniture. Their implementation, according to Dagestan authorities will create more than 200 jobs.

According to the Ministry of Economy and Territorial Development of the Republic, at present, 12 Dagestan enterprises are included in the register of residents of the Kaspiisk TAD. At the end of 2019, 139 jobs were created, 377 million rubles of investments were attracted.

The first TAD in Dagestan was created in the monotown Kaspiysk in 2017. The TAD mode is valid for 10 years throughout the city. The prerequisite for obtaining resident status is the implementation of activities in the city with an investment of at least 5 million rubles and the creation of at least 20 jobs during the first year of activity.



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