June 06, 2019 20:01
Industry Ministry, Perm Territory and Uralkali sign SPIC on Polovodovo and new Solikamsk-2 mine (Part 3)
ST. PETERSBURG. June 6 (Interfax) - The Russian Industry and Trade Ministry, the authorities of the Perm Territory and Uralkali (MOEX: URKA) have signed special investment contracts (SPIC) for construction of the Polovodovo potash mining and processing plant and the new Solikamsk-2 mine in the Perm Territory, an Interfax correspondent reported from the signing ceremony, which took place at the St. Petersburg International Economic Forum (SPIEF).
Overall investment in the Polovodovo mine, capacity 2.8 million tonnes of potassium chloride per year, will be 117.8 billion rubles. Investment in the Solikamsk-2 mine will be 36.8 billion rubles.
The companies will receive tax breaks stipulated by the SPIC. The contracts grant Uralkali the right to zero-rated profit tax until 2026 and zero property tax until 2029.
Uralkali said in a statement that according to the contracts, production should begin at Solikamsk 2 in 2024 and at the Polovodovo complex in 2027.
The two projects will create around 1,900 jobs.
Ng pr ak
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