OREANDA-NEWS  Serial production of a full cycle of replaceable plates and cutting tool blanks for numerical control machines (CNC) has started with the participation of the Industrial Development Fund (EDF) at the Virial machine tool plant in St. Petersburg, RIA Novosti reports.

According to the FRP, the new products will be in demand in the aviation, engine building and shipbuilding industries, it will reduce dependence on imports. Among the customers are enterprises of the military–industrial complex, including the United Aircraft Corporation, United Engine Corporation, United Shipbuilding Corporation, and Rosatom. The first batches of products have already passed industrial tests at the customer's factories.

"Today, a new thousandth production facility has been launched with the participation of the Industrial Development Fund. In total, the Federal Reserve Fund has already financed 1,900 projects in 79 regions of the country, providing over 630 billion rubles for the creation of high-tech and import-substituting industries throughout the country. The anniversary was the project of Virial, which launched a series of cutting tools in demand in key industries. The federal Reserve granted a preferential loan of 1 billion rubles for the purchase of equipment, and the total investment amounted to 1.25 billion rubles," said Roman Petrutsa, director of the Industrial Development Fund.