Russian government will subsidize modern machine tools

by:Gewinn     2022-05-30
Russian Prime Minister Dmitry Medvedev recently signed a government decree to provide financial subsidies to Russian machinery manufacturing modernized lathes and machine tool mass production projects. The total amount is 5.552 billion rubles (about 113 million US dollars), which will be allocated in batches in 2014-2016. The purpose of this move is to boost the Russian machinery manufacturing industry, promote the development of import-substituting industries, and help the Russian machinery manufacturing industry alleviate or get rid of the negative impact of sanctions in Europe and the United States, the TASS news agency said.
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