Investors in Arctic projects will receive non-repayable grants

Investors will be able to obtain non-returnable subsidy of up to 20% of their investments in projects in the Arctic, said the Deputy head of Minvostokrazvitiya Alexander Krutikov.

the Authorities are developing measures of support for investors. In particular, a tax relief for mining companies. The state Duma Committee on budget and taxes recommended to accept in the first reading the corresponding amendments to the Tax code.

“Any investor who is willing to invest in the Arctic is not less than RUB 300 million may receive from the state an irrevocable grant for the construction of transport, energy, other infrastructure, which is needed to start a new production,” explained Krutikov, reports TASS.

In this case, the subsidy may not exceed 20% of the volume of private investment in the project. Such specifications are approved in the government.

Thus, in the construction of the new port and investing 30 billion rubles of own and borrowed funds, the investor will receive from the state a subsidy of up to RUB 6 billion. the money the investor will be able to send, for example, the construction of a transmission line or rail, concluded Krutikov.