General model of concessions for Arctic should be drawn up by end of March - Trutnev
MOSCOW. March 4 (Interfax) - Ministries are currently formulating a general model of concessions for the Arctic, with its parameters due to be drawn up before the end of March, Russian Deputy Prime Minister and Presidential Representative to the Far East Federal District Yury Trutnev, who also heads up the State Commission on Arctic Development, told Interfax in an interview.
"Right now, we are elaborating a general model of concessions, and at the moment, it is in the form of an outline, before the end of March, I hope, we should have a more definite understanding. I have said more than once that this model cannot use the Far East as a template, since the conditions in the Arctic are different. But among the proposals, there must be a "grandfather clause" mechanism, that is, long-term guarantees for the investor. He should know his tax regime for many years ahead in order to calculate the recoupment period. Furthermore, he should have an understanding of the arrangement for delivery of construction materials, the logistics of transporting the finished product. Transportation is also a pressure point for the Arctic territories," Trutnev said.