Grundfos signs Special Investment Contract in Russia

The Special Investment Contract (SpIC 2.0) opens up for water supply and wastewater treatment projects in Russia. It also enables Grundfos to invest over two billion rubles in new manufacturing technologies and new jobs.

Grundfos has signed a Special Investment Contract, also referred to as SpIC 2.0. With it, 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 introduce some of its newest technologies into its Russian plant. Furthermore, Grundfos commits to using more locally sourced raw materials.

SpIC 2.0 paves the way for Grundfos to invest over two billion rubles in new manufacturing technologies and creating new jobs as well as focus on projects within high efficiency products for water supply, heating and wastewater in Russia.

“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," says Inna Marenkova, President, Grundfos Russia.

The global strategy for Grundfos has always focused on production of energy-efficient equipment saving natural resources and reducing environmental impact.

“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. 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," said Anatoly Slobodinsky, Plant Director of Grundfos Istra.

SpIC 2.0 was signed in December 2021 by Denis Manturov, Russian Minister of Industry and Trade, Andrey Vorobyov, Governor of Moscow Region, Tatiana Vitusheva, Head of Istra Municipality and Anatoly Slobodinsky, CEO Grundfos Istra.