Donetsk, Jul 18 — DAN. A company from the Donetsk People’s Republic has become the first resident of the free economic zone launched in the new Russian regions, the DPR Economic Development Ministry press service reported on Tuesday.

“On July 15, 2023, ‘ZET Sputnik’ concluded an agreement on the terms of operation in the free economic zone (FEZ), and on July 17 it was granted the status of free economic zone participant in the DPR territory, ” the Ministry said. “The company was entered into the FEZ register as the first resident.”

“ZET Sputnik” plans to manufacture trams, trolleybuses and electric buses using the infrastructure of the Donetsk Energy Plant.

The Donetsk News Agency earlier reported that businesses from Nizhny Novgorod suggested producing “Sputnik Z” trams in the region.

In late June, Russian President Vladimir Putin signed a federal law on launching a free economic zone in the Donetsk and Lugansk People’s Republic and the Zaporozhye and Kherson regions. The FEZ will operate until January 31 2050. There are 30 potential investors who are preparing to implement their projects in the FEZ; 24 have already registered on the electronic portal of the Territorial Development Fund which is the FEZ managing company.*jk