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NPO Petrovax Pharm increased exports by 60% in 2016

02.03.2017

In 2016, the exports of NPO Petrovax Pharm manufacturing unit located in the city district of Podolsk, Moscow region, increased by 60% year-on-year, as was reported to mosreg.ru website by a spokesperson of the district administration for investment operations, manufacturing, and entrepreneurship support.

«In 2016, NPO Petrovax Pharm exports in real terms (packages) increased by 60% vs. 2015. Presently, NPO Petrovax Pharm products are registered in 11 states, including CIS, Slovakia, and Iran. The company plans to expand its presence in the states where it already operates as well as enter the EU and South American markets», said the agency interlocutor.

He specified that in February 2017, the Industrial Development Fund approved for NPO Petrovax Pharm LLC a special-purpose loan for the construction of a new production line. This construction started in the 4th quarter 2016. The construction completion and the launch of the new production line are scheduled for the 1st quarter 2018. The project implementation will involve creating new jobs at the company’s site in the city district of Podolsk.

The spokesperson of the district administration for investment operations emphasized that due to the facility’s increased earnings, taxes paid to Moscow region’s budget will go up as well.

Source: mosreg.ru

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