Grundfos signs special investment contract with Russia

Grundfos has signed a Special Investment Contract (SpIC 2.0) which will open up water supply and wastewater treatment projects in Russia.

St Basil's Cathedral, Moscow
St Basil's Cathedral, Moscow - Image © Mariakray -

With the SpIC 2, Grundfos can now compete on the same terms as local companies in Russia and enter tenders for large government projects.

The contract also means that Grundfos can invest over Rub2 billion in new manufacturing technologies, create new jobs and focus on high efficiency products for water supply, heating and wastewater projects in Russia. Grundfos is also committing to using more locally sourced raw materials.

“Completion of SpIC 2.0 has first and foremost empowered us to bring advanced pumping equipment technology to Russia and contribute to the development of domestic component suppliers,” said Anatoly Slobodinsky, plant director of Grundfos Istra. “The products manufactured at Grundfos Istra plant within the framework of SpIC will meet both Russian standards and the high-quality requirements of Grundfos, which guarantees they are competitive in foreign markets.”

“We strongly believe that Grundfos’ further presence in our country and the domestic supplier status will allow us to work more closely with Russian customers, providing quality and energy-efficient equipment,” said Inna Marenkova, president of Grundfos Russia.