Investment in Russian car industry may climb 20% to 2020
MOSCOW. Dec 6 (Interfax) - Investment in Russia's auto industry to 2020 within the framework of the government program for developing industry may be increased by 185.9 billion rubles, show draft program materials, which Interfax has seen.
The subprogram for the development of the auto industry in 2012-2020 previously proposed investment of 72.06 billion rubles in budget funds and 866.63 billion rubles in extra-budgetary funds. Thus, overall investment could go up 19.8% if the amendments are approved.
The additional funds are to be used to develop R&D (3 billion rubles), subsidies for the transport of cars produces in the Far East (20.14 billion rubles), encouraging the creation of modern bearing manufacture (300 million rubles), development of a subsidy mechanism for car manufacturers (from 2018 - 162.46 billion rubles) and subsidies on compensation for loan and bond interest for car plants (23.81 billion rubles).
Russia may allocate 13.51 billion rubles from the budget within the sub-program