The Caspian Factory of Float-Glass (investor) has started realization of the project in the village of Tyube in the Kumtorkalinsky District, with a landlot of 50 hectares.
The factory will produce 20% of all float-glass in the North Caucasian Federal District and 8% in Russia by 2013. The project will cost 10.5 billion rubles, 30% of the sum was provided by the local budget and 70% in loans.
Glass will be exported to Iran, Azerbaijan, Georgia and Armenia and sold in other Russian regions by June 2013.
About 1,500 people will be involved, including foreign high-tech specialists. The project is part of an 11-year program. It will provide some 9 billion rubles in taxes. 475 people will work at the factory at an average wage of about 30,000 rubles.