A project being implemented by PhosAgro in Leningrad region became one of pilot projects for launching a mechanism of Agreements on protection and promotion of investments (APPI).
The Ministry of Economic Development of the Russian Federation, the Government of Leningrad Region and PhosAgro signed the Agreement on protection and promotion of investments under the project on construction of a modern complex for production of phosphorus fertilizers and an electric power plant in Volkhov.
The document became one of the pilot APPI signed after adoption of the law “On protection and promotion of investments in the Russian Federation”.
The agreement will guarantee invariability of tax and other regulatory conditions for investors within agreement duration.
The volume of investments in the new project will come to 28 billion rubles. The capacities of the new production will allow Volkhov chemical complex of PhosAgro to increase the annual product release for more than 4 times – from 200 to 860 thousand tonnes, more than 200 highly qualified jobs will be established in Leningrad region.
Implementation of the investment project receives the support of Economic Development Agency of Leningrad Region.