Acron Group has entered into an agreement on protection and promotion of capital investments of the Russian Federation and the Novgorod Ministry of Investment Policy.
The document provides a guarantee that the regional and federal levels for 20 years will not apply any acts that would negatively affect the investor in the construction of the Ammonia and Urea complex.
The agreement was signed by Vladimir Kunitsky, Director General of the company, Andrey Ivanov, First Deputy Minister of Economic Development, and Denis Nosachev, head of the regional department for investment policy.
An additional ammonia and urea production facility will be built as part of the largest project for the region. A total of 106 billion rubles will be invested in the project.
The project is slated to be launched next year, and the production is slated to start in the second half of 2025. In another year the venture aims to reach its full capacity.
More than 300 additional jobs will be created in the region due to the launch of the project.
In addition, its implementation will ensure the inflow of private investment in the region's economy will lead to additional tax revenues for the budget.
"I hope that in the near future the new tool for encouraging investment will be applied to other investors," Novgorod regional government press centre quotes Yevgeny Bogdanov, deputy chairman of the regional government, as saying
Made in Russia // Made in Russia
Author: Ksenia Gustova