Russian Ministry of Industry and Commerce expects to sign 10 new federal investment contracts

Russian Ministry of Industry and Commerce expects to sign 10 new federal investment contracts

RusAutoNews.Com – About 10 special federal investment contracts, for projects with investment values amounting up to 250 billion rubles, will be signed in the next 3-5 months, as told by the First Deputy of the Ministry of Industry and Commerce: Gleb Nikitin (via TASS).

German manufacturer Claas and American Deere & Co are amongst these companies, according to Industrial Development Fund officials.

The first investment contract was expected to be signed by Sollers and Mazda, for the purpose of engine production in Vladivostok. The relevant statement had been made by Nikitin, during an interview with TASS in September 2015. The general director and the main shareholder of Sollers: Vadim Shvetsov has stated the investment amount in the project as approximately 2 billion rubles. The partners hope that the 10-year investment contract will be signed in March, said the representative of Sollers. According to the representative, the project will benefit from the Special Economic Zone’s tax privileges in Vladivostok, but the most important thing is the preservation of the investment conditions. “The guaranteed government purchase is not necessary. The engines will be delivered to the overseas plants of Mazda.” said the source.