An Agreement on protection and promotion of investments was signed by the Ministry of Economic Development of the Russian Federation, the Government of Leningrad Region and Novotrans Group of Companies.
A project on construction of a multifunctional terminal LUGAPORT in the seaport of Ust-Luga became the third project in Leningrad region where APPI mechanism will be applied. The agreement guarantees stability of tax and other regulatory conditions for the investor within duration of the agreement.
The multipurpose transport and logistics complex of Novotrans will be used for transshipment of bulk, general, grain and food cargo with the total volume of 24.26 million tonnes per year. The terminal will be commissioned in the end of 2024.
Economic Development Agency of Leningrad Region provides support for implementation of the project.