FRP to Finance Production of Gearboxes for Mining Equipment in Anzhero-Sudzhensk

The Industrial Development Fund (FRP) will provide Anzheromash with a concessional loan of 645 million rubles (~$8.4 million) at 3% per annum to launch production of gearboxes for mining equipment in Anzhero-Sudzhensk (Kuzbass). The project aims to supply the industry with critically important components and reduce dependence on imports. The loan will enable localization of products in demand by mining enterprises.