20 Jul 2010 19:54

Investment in Neudorf economic zone in St. Petersburg tops 2 bln rubles - Nabiullina

ST. PETERSBURG. July 20 (Interfax) - Investment in the newly commissioned Neudorf special economic zone in St. Petersburg tops 2 billion rubles, Economic Development Minister Elvira Nabiullina said at the ribbon-cutting ceremony on Tuesday.

The federal budget provided 1.2 billion rubles and the rest came from the city of St. Petersburg.

"The main goal of the special economic zone is to spur high-tech development and commercialize domestic scientific potential," she said.

St. Petersburg Governor Valentina Matvienko said creating the infrastructure for a second special economic zone - Novo-Orlovsky - is scheduled for late 2011. Investment in that zone will total 15 billion rubles, she said.

Priority areas for the special economic zone are IT and telecommunications, pharmaceuticals, nanotechnology and instrument manufacturing.

The first tenants at Neudorf are CJSC Business Computer Center St. Petersburg, OJSC BNT Priboi, Emzior LLC, CJSC Biokad and CJSC Pharm Holding.

City officials are in talks with other potential investors, including pharmaceutical maker Novartis, which plans to create a research and pilot manufacturing center and organize production of the medications developed there.

St. Petersburg won the tender to host the special economic zones for technology in 2005. The zone includes Neudorf (18.9 hectares) and Novo-Orlovsky Park (112 hectares).

Tenants will enjoy tax breaks: a reduction in the 14% Unified Social Tax, exemption from property, land and transportation taxes (the latter for five years) and a 20% reduction in the portion of the profit tax payable to the city of St. Petersburg.