Russian govt again reviews program for recapitalizing RosGeo in 2022-24, cuts it from 8 bln rubles to 7.4 bln rubles

MOSCOW. June 8 (Interfax) - Recapitalizing JSC RosGeo state geological exploration holding will total 7.397 billion rubles in 2022-2024 instead of the previously planned 8 billion rubles, and the Russian government has approved and ordered the relevant changes, and published them on Wednesday on the official internet portal of legal information.

The entire amount will be reduced from this year's funds, totaling nearly 1.4 billion rubles instead of 2 billion rubles. The charter capital contribution planned for 2024 has remained at 2 billion rubles.

This is the second time that the RosGeo recapitalization program has been amended. The first edition of the document envisaged recapitalization of 12 billion rubles at 4 billion rubles per year in 2022, 2023, and 2024. The first amendment of the document was approved in February 2023, envisaging a cut from 4 billion rubles to 2 billion rubles in 2023 and 2024, respectively.