The largest glass packaging manufacturer in the Asian part of Russia increases outputs by 30% with the EDB’s financing

13 July 2021

Moscow, 12 July 2021. Sibirskoye Steklo (Sibsteklo, a member of the RATM Holding, Novosibirsk) has commissioned one of the industry’s largest glass melting furnaces, which will increase the plant’s total capacity by 30%, to 850 million pieces of glass containers a year. The Eurasian Development Bank’s (EDB) financing for Sibirskoye Steklo’s investment programme amounted to RUB 1.99 billion, of which RUB 650 million was used to upgrade the furnace.

The furnace has now reached its target capacity of 375 tonnes of glass a day and is expected to manufacture 400 tonnes daily during the operation phase. Commissioning has been in progress since the end of March. The furnace incorporates energy efficiency solutions – the use of state-of-the-art thermal insulation has reduced specific energy consumption by 25%.

The lifespan of the equipment will be 12 years, with a payback period of three years. Almost the entire volume of glassware to be potentially produced has been contracted.

“The company’s products are in demand not only in Russia but are also exported to other EDB member countries, namely Kazakhstan and Kyrgyzstan. This project is an example where expanded production benefits the company and its operating region and helps to promote trade and economic ties among the EAEU countries. This is a key aspect of our operations,” said Nikolai Podguzov, Chairman of the EDB Management Board.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For 15 years, the Bank has worked to strengthen and broaden economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.

The EDB Media Centre:

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

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