Baltic Carbamide Plant – first investor of Ust-Luga industrial area to obtain tax benefits
Baltic Carbamide Plant LLC (ICT Group) will be provided with tax benefits for the investment project on construction of a gas-chemical complex producing ammonia and carbamide in the industrial area of Ust-Kuga port (Leningrad region), says press center of the regional government.
“Implementation of this large investment project to a great extent depended on organization of gas supplies to the port and the industrial area. I have asked the President of Russia to support the project and Gazprom included the construction of a gas pipeline to Ust-Luga port into its investment programme,” Leningrad Region Governor Aleksandr Drozdenko says.
According to him, gas supplies to the industrial zone will make 7 bln cbm per year including over 1 bln cbm to be used by Baltic Carbamide Plant at the initial phase of its operation. The rest will be used by other enterprises of the chemical cluster in the port zone, Drozdenko says.
As Aleksey Alyoshin, Director General of Baltic Carbamide Plant LLC said, the plant will produce up to 1,240,000 tonnes of carbamide granules and up 350,000 tonnes of ammonia per year.
The construction is to be completed by the end of 2017 with launch scheduled for the first quarter of 2018. The project is to generate 800 jobs. The volume of investments is to exceed RUB 53 bln. Under the agreement, the company will pay reduced taxes (13.5% of profit tax and 0% of income tax) during the payback period and for two years afterwards.
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