Investor will receive state support for phosphoric acid production in Bashkiria

The government of the Republic of Bashkortostan signed an agreement on the protection and promotion of investments with the Bashkir Phosphate Company, which plans to produce phosphoric acid in the Meleuzovsky district. This agreement will allow the investor to receive several government support measures, including providing a land plot for rent without holding a tender. With the support of the Development Corporation, the project was presented to the Head of Bashkortostan Radiy Khabirov at the Invest Hour Session meeting and approved for implementation, as well as inclusion in the List of priority investment projects in the region. The total declared investment in the project will be about 2 billion rubles.

“The conclusion of an agreement on the protection and promotion of investments guarantees the initiator of a priority investment project the unchanged conditions for its implementation, as well as the provision of tax breaks, subsidies, and other government support measures. The Development Corporation entirely prepares the necessary documents for their receipt. We have been supporting the project of the Bashkir Phosphate Company from the very beginning, and the business sheriff of the Meleuzovsky district, Albert Taimasov, has helped us a lot in this. Working together, we quickly solved all the issues related to the land plot for constructing a production facility and installing utility networks. Effective interaction between the Corporation and the business sheriff with the investor allows us to speed up the passage of all stages of the project on the way to the creation of an enterprise where 150 new jobs will soon be created,” explained Nail Gabbasov, General Director of the Development Corporation of the Republic of Bashkortostan.

The investor notes that the enterprise will help improve the efficiency of agricultural production. The project will be implemented as part of import substitution and reduce the Russian market's dependence on importing pure grades of phosphoric acid. The investor is considering further expansion of the product line in the future.

Author: Sergey Nikolaev