Metallurgical terminal in Ust-Luga to commence operation in 2015 – Leningrad Region Government
Baltic Metallurgical Terminal LLC has been provided with tax privileges for the construction of a terminal in Ust-Luga commercial seaport. According to the press center of the Leningrad region government, the agreement for providing of State support measures in the form of tax privileges for an investment project on construction of a metallurgical terminal in Ust-Luga commercial seaport was signed last week.
Under the agreement the investor will be provided with the tax privileges for the project payback period and two following years. In particular, the profit tax rate will be decreased from 18% to 13.5% and the corporate property tax rate – to zero.
The construction of a metallurgical terminal in Ust-Luga port started in 2008 and it is expected to commence its production activities from 2015 with full production to be reached by 2017. The terminal is to handle 3,540 tons of cargo per year.
Investment into the project is to total RUR 7.248 bln. 249 new work places are to be created during the project implementation.
The construction of a metallurgical terminal in Ust-Luga commercial seaport will bring RUR 1.161 bln to different budgets and non-budget funds.