JSC “Chukotatomenergo” (part of the State Corporation Rosatom) has been assigned resident of the Arctic Zone of the Russian Federation (AZRF) status. The relevant agreement was signed with the Russian Far East and Arctic Development Corporation (FEDC) as part of the 4th interregional forum “Idea to Business. Business to Results.”
The agreement was signed by the General Director of JSC “Chukotatomenergo” Pyotr Matyushenko and FEDC Acting Director General Nikolay Zapryagaev in the presence of Deputy Minister for the Development of the Russian Far East and the Arctic Anatoly Bobrakov.
The agreement establishes a wide range of tax benefits and administrative preferences for a new resident of the Arctic zone of the Russian Federation. JSC “Chukotatomenergo” plans to invest more than 150 billion rubles within 10 years in a project to supply power to the Baimsky Mining and Processing Plant (MPP) being created in the “Chukotka” Advanced Special Economic Zone with the aid of modernized floating power units. About 650 new jobs will be created.
“The harsh natural conditions of Chukotka, the inaccessibility of the region require non-standard and effective solutions for the implementation of large-scale investment projects that will become the drivers of the socio-economic development of the entire region. One such decision is the use of modern floating power units to supply electricity to the Baimsky MPP,” said Deputy Minister for the Development of the Russian Far East and the Arctic Anatoly Bobrakov.
“The implementation of the agreement and the support measures provided are one of the most important factors in the development of our project in the Chukotka Autonomous Region, opening up further prospects for the rapid development of the entire region,” said General Director of JSC “Chukotatomenergo” Pyotr Matyushenko.
“Working with the support of the Ministry for the Development of the Russian Far East and Arctic, the FEDC, in cooperation with regional authorities, will accompany one of the most important projects for the development of the Arctic at all stages of implementation, provide services, promptly assist in resolving various issues, and ensure the application of state support measures. For residents of the world’s largest preferential territory - the Arctic Zone of the Russian Federation - income and property taxes have been significantly reduced, and 75% of insurance premiums for newly created jobs are subsidized. Businesses have the opportunity to receive land without bidding and apply free customs zone procedures,” FEDC Acting Director General Nikolay Zapryagaev said about the signing of the agreement.
Arctic Zone of the Russian Federation resident JSC “Chukotatomenergo” will receive economic preferences in accordance with Federal Law No. 193-FZ dated July 13, 2020 “On State Support for Entrepreneurial Activity in the Arctic Zone of the Russian Federation.”
“The Baimsky MPP construction project is unique not only in terms of the scale and technologies used, but also in terms of its impact on the development of the region. Tax revenues to the budgets of all levels from the implementation of the project will exceed one trillion rubles, increasing the gross regional product by 100% and making the region unsubsidized,” said Executive Director of MMC Baimskaya LLC Georgy Fotin.
A comprehensive plan (roadmap) for the implementation of the investment project for the development of the Baimskaya ore zone was approved by Deputy Prime Minister of the Russian Federation and Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev via resolution No. 14480p-P51 dated December 28, 2021.
For reference:
JSC “Chukotatomenergo is a subsidiary of the State Corporation Rosatom, established in 2021 to implement a project to supply power to the Baimsky Mining and Processing Plant with the help of modernized floating power units.
The start of operations for the first two modernized floating power units to supply power to the Baimsky MPP is scheduled for the first quarter of 2027, the third for the first quarter of 2028, and the fourth by the middle of 2031.
The Russian Far East and Arctic Development Corporation is the management company of the Arctic Zone of the Russian Federation, the Free Port of Vladivostok, and the Advanced Special Economic Zones in the Far Eastern and Arctic regions of Russia.
According to the FEDC, more than 397 enterprises and individual entrepreneurs are currently residents of the Arctic Zone of the Russian Federation. The volume of declared investments in projects is 530.3 billion rubles, 17,200 jobs are being created.
From April 19 to April 23, 2022, the 4th interregional forum “Idea to Business. Business to Results” is being held in the Chukotka Autonomous Region. Entrepreneurs, government officials, and experts take part in conferences on the availability of financial resources, agriculture, the development of the construction industry in the region, and measures to support small- and medium-sized businesses.
Photo: State Corporation Rosatom
The agreement was signed by the General Director of JSC “Chukotatomenergo” Pyotr Matyushenko and FEDC Acting Director General Nikolay Zapryagaev in the presence of Deputy Minister for the Development of the Russian Far East and the Arctic Anatoly Bobrakov.
The agreement establishes a wide range of tax benefits and administrative preferences for a new resident of the Arctic zone of the Russian Federation. JSC “Chukotatomenergo” plans to invest more than 150 billion rubles within 10 years in a project to supply power to the Baimsky Mining and Processing Plant (MPP) being created in the “Chukotka” Advanced Special Economic Zone with the aid of modernized floating power units. About 650 new jobs will be created.
“The harsh natural conditions of Chukotka, the inaccessibility of the region require non-standard and effective solutions for the implementation of large-scale investment projects that will become the drivers of the socio-economic development of the entire region. One such decision is the use of modern floating power units to supply electricity to the Baimsky MPP,” said Deputy Minister for the Development of the Russian Far East and the Arctic Anatoly Bobrakov.
“The implementation of the agreement and the support measures provided are one of the most important factors in the development of our project in the Chukotka Autonomous Region, opening up further prospects for the rapid development of the entire region,” said General Director of JSC “Chukotatomenergo” Pyotr Matyushenko.
“Working with the support of the Ministry for the Development of the Russian Far East and Arctic, the FEDC, in cooperation with regional authorities, will accompany one of the most important projects for the development of the Arctic at all stages of implementation, provide services, promptly assist in resolving various issues, and ensure the application of state support measures. For residents of the world’s largest preferential territory - the Arctic Zone of the Russian Federation - income and property taxes have been significantly reduced, and 75% of insurance premiums for newly created jobs are subsidized. Businesses have the opportunity to receive land without bidding and apply free customs zone procedures,” FEDC Acting Director General Nikolay Zapryagaev said about the signing of the agreement.
Arctic Zone of the Russian Federation resident JSC “Chukotatomenergo” will receive economic preferences in accordance with Federal Law No. 193-FZ dated July 13, 2020 “On State Support for Entrepreneurial Activity in the Arctic Zone of the Russian Federation.”
“The Baimsky MPP construction project is unique not only in terms of the scale and technologies used, but also in terms of its impact on the development of the region. Tax revenues to the budgets of all levels from the implementation of the project will exceed one trillion rubles, increasing the gross regional product by 100% and making the region unsubsidized,” said Executive Director of MMC Baimskaya LLC Georgy Fotin.
A comprehensive plan (roadmap) for the implementation of the investment project for the development of the Baimskaya ore zone was approved by Deputy Prime Minister of the Russian Federation and Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev via resolution No. 14480p-P51 dated December 28, 2021.
For reference:
JSC “Chukotatomenergo is a subsidiary of the State Corporation Rosatom, established in 2021 to implement a project to supply power to the Baimsky Mining and Processing Plant with the help of modernized floating power units.
The start of operations for the first two modernized floating power units to supply power to the Baimsky MPP is scheduled for the first quarter of 2027, the third for the first quarter of 2028, and the fourth by the middle of 2031.
The Russian Far East and Arctic Development Corporation is the management company of the Arctic Zone of the Russian Federation, the Free Port of Vladivostok, and the Advanced Special Economic Zones in the Far Eastern and Arctic regions of Russia.
According to the FEDC, more than 397 enterprises and individual entrepreneurs are currently residents of the Arctic Zone of the Russian Federation. The volume of declared investments in projects is 530.3 billion rubles, 17,200 jobs are being created.
From April 19 to April 23, 2022, the 4th interregional forum “Idea to Business. Business to Results” is being held in the Chukotka Autonomous Region. Entrepreneurs, government officials, and experts take part in conferences on the availability of financial resources, agriculture, the development of the construction industry in the region, and measures to support small- and medium-sized businesses.
Photo: State Corporation Rosatom
