Russian Minister wrote an article about the profitability of projects in the Arctic
The creation of the first three gas-chemical plants in the Arctic zone of Russia may bring revenues totaling 1,5 trillion rubles to the state budget, Yakutia 24 TV channel reports with the reference to TASS.
Such calculations were made by RF Minister for Development of the Far East and Arctic Alexander Kozlov in his article published in the “Russian Newspaper” on November 25.
“There is still no gas chemical production in the Arctic. Thanks to the benefits, we will launch three projects, and the budget will be able to get 1,5 trillion rubles. By creating a new oil province in the Eastern Arctic, we will increase the profitability of projects in Yakutia, Chukotka and the north of the Krasnoyarsk Territory. Up to 22,6 % just in one comprehensive project” the article says.
According to Kozlov, these projects’ profitability can be increased due to the preferences, provided for in the draft bill on state support measures of entrepreneurial activity in the Arctic zone, that has already been submitted to the government.
According to the draft law on the special economic regime in the Russian Arctic zone, all investors in this territory may count on non-deterioration of tax conditions for the entire period of the project.
The residents are to have a free customs zone regime, shortened cargo execution time and a tax reduction, for example, a 7% income tax for the entire duration of project.