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Investment in public company "RusVinyl", Russia was increased by 20 billion rubles



The basic conditions of the investment agreement between the public company "RusVinyl" and Nizhniy Novgorod region, Russia can be reviewed.



25.Jul.14 5:39 AM
By Ube Salorainen
Photo moust.ucoz.ru

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Investment in public company "RusVinyl", Russia was increased by 20 billion rubles
During  the meeting of the Commission for economy, industry and entrepreneurship support of the legislative Assembly of Nizhniy Novgorod region, Russia the bill, claiming additional agreement № 2 between the government of Nizhniy Novgorod region and the public company "RusVinyl" was considered.

Acting Minister of investment policy Yuriy Groshev noticed that the investment agreement between the government of the region and the public company "RusVinyl" was signed in December 2008. The project implied the construction of a plant for production of polyvinylchloride. As part of the agreement tax benefits and compensation of interest rates on credits were given. Signed additional agreement brings specific changes into the contract. In particular, the amount of investments was increased from 55 billion rubles to 72.9 billion roubles, the start-up is planned for 2014, also they set a new deadline for implementation of the national support - from October 2014 to September 2019.

The acting Minister mentioned that the cost of the project is increasing, the cost of the purchased equipment is increasing too due to fluctuations in the ruble exchange rate. The date of start-up is delayed because of problems with the installation of treatment facilities and the construction of a new railway line.

Final decision will be taken at the meeting of the Legislative Assembly of Nizhniy Novgorod region, Russia on July 31, 2014.



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