Russia expands list of technologies eligible for SPICs with loaders, chemicals, forestry products, pipes

MOSCOW. Feb 16 (Interfax) - Russian Prime Minister Mikhail Mishustin has signed an order to expand the list of modern technologies eligible for special investment contracts (SPIC) with 14 new items.

The updated list includes technologies for manufacturing synthetic liquid fuel from non-petroleum feedstock; linear low and high density polyethylene; backhoe loaders with real-time remote monitoring and control capabilities; welded pipes for the oil industry; and wood chipboard.

Under SPICs, an investor assumes the obligation to carry out an investment project based on modern technology in order to set up serial commercial production, while the federal and regional governments provide stable conditions, including tax conditions, for implementing the project. The updated SPIC 2.0 mechanism was launched in 2020, removing requirements for minimum amount of investment and providing a duration of up to 15 years for projects with investment of up to 50 billion rubles and up to 20 years for projects costing over 50 billion rubles.