DY Technologies («Ди Вай Технолоджис») will create an import-substituting production of automotive electronics at the Alabushevo site in Zelenograd and will allocate more than 200 million rubles (about $2.9 million) for the project. The investor will start construction of the new plant at the end of this year. This was announced by Vladimir Efimov, Deputy mayor of Moscow for economic policy, property and land relations.

– The new production facility will provide automotive electronics to car manufacturers, telecommunications companies and major car Park operators. The total investment in this project will amount to more than 200 million rubles, and the company plans to reach full capacity by 2023. The company will create more than 60 new jobs at the new plant, – the Vice-mayor said.

On a plot of 0.45 ha, the investor will build a plant with an area of more than 2100 sq. m. Construction will begin at the end of 2020, and commissioning is planned in the first quarter of 2022. The new plant will produce multimedia devices and video recorders for a wide range of vehicles.

According to Alexander Prokhorov, head of the capital's Department of investment and industrial policy, the proximity of the production to the Moscow Institute of electronic technology, which is also located in Zelenograd, will allow students to pass an internship directly at the enterprise with the prospect of further employment.

– The company plans to use all the preferences of a resident of the special economic zone – lease, tax and customs benefits. Annual savings of up to 47 percent on taxes and other mandatory payments will allow to redirect funds to the organization of production businesses, pay special attention to energy efficiency, personnel safety and environmental protection, – said Gennady Degtev, General Director of the Technopolis Moscow special economic zone.