Rostec to increase amber exports by 1.5 times in 2019

2019-06-21 11:00 2012

BEIJING, June 21, 2019 /PRNewswire/ -- Kaliningrad Amber Combine (part of Rostec) plans to export 283.5 tonnes of amber with the total amount of US$27 million (1.7 billion rubles) this year, by 46% more than in 2018. China is the main foreign market for combine's products. According to 2019 forecasts, in monetary terms, its share of supplies will be about 72%.

The amber exports to China will increase by 5% from 190 to 200 tonnes compared to last year, and will be US$19 million (1.2 billion rubles). To achieve its exports target, Kaliningrad Amber Combine intends to sign agreements with its distributors.

"We have seen a steady increase in demand for amber in China, a leading global consumer of amber products. Kaliningrad Amber Combine is the only enterprise for industrial extraction of 'sunstone' in Russia and in the world. 90% of the world amber deposits, estimated at 116,000 tonnes, are located at combine's mines. So, we are ready to cooperate with our foreign partners and supply legally extracted amber for many years to come," said Victor Kladov, Rostec's Director for International Cooperation and Regional Policy.

Kaliningrad Amber Combine was established in 1947, based on Konigsberg Amber Factory. In early 2014, the combine became a part of Rostec State Corporation, according to a decree of Russian President Vladimir Putin. Since 2016, the enterprise has ramped up its production. In recent years, the production has been heavily modernized: as part of technological upgrade, the enterprise was equipped with new machines and tools.

Rostec continues to implement a large-scale program for the development of its civilian production in accordance with the approved Strategy, which is mainly aimed at increasing the annual revenue by an average of 17% in ruble terms through to the year 2025, up to 50% growth of the share of civilian products in its revenue, as well as at improving the operating efficiency and gaining access to world markets.

Source: Rostec