Building chemical capacity for Russian economy's adaptation to new conditions expected to cost up to 3 trln rubles to 2030 - MP

MOSCOW. Nov 3 (Interfax) - The creation of chemical facilities for the Russian economy's accelerated adaptation to new conditions will require 2.5 trillion to 3 trillion rubles of investment in the period to 2030, State Duma member Maria Vasilkova said.

"According to experts' estimates, investment in the creation of new chemical production facilities needs to total 1.1 trillion-1.3 trillion rubles to replace imports of chemical products included in sanctions lists, and to ensure the Russian GDP growth rates in the "accelerated adaptation of the economy to new conditions" scenario worked out by the Economic Development Ministry of Russia, up to 2.5 trillion-3 trillion rubles need to be invested in the creation of new capacities in the period to 2030," Vasilkova said at a meeting of the Duma Industry and Trade Committee's expert council for the development of the chemical industry.

State support for organizations in the chemicals sector totalled 10.41 billion rubles in the first half of 2023 and 34.47 billion rubles in 2022, a press release issued after the meeting said.