"Burintech" Ufa company received preferential loan from Industry Development Fund

UFA, 6 October 2016. /Bashinform News Agency, Olga Murtazina/. In Ufa the "Burintech" R&D company received a preferential loan from the Industry Development Fund. As the press-service of the Government informs, 300 million rubles are issued with five percent per annum for the production of rotary steerable drilling system for oil and gas extraction. This high-tech equipment has no analogues in the world. It is able to drill along complex trajectories for opening remote inaccessible deposits.

The Industry Development Fund was created to modernize the Russian industry, establish new industries and provide import substitution. In Bashkortostan, the Fund has co-financed two projects worth 897 million rubles, of which 490.6 million were borrowed funds. The Beloretsk Metallurgical Plant has received co-financing for the production of strand-laid ropes. The Sterlitamak "Stankostroenie" R&D company had co-finance of modern buildings construction for NC machines.