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18 August 2009 |
Investment Fund application for the Belkomur project supported by Vegas Lex has been approved by the Investment Commission of the RF Regional Development MinistryOn 7 August 2009, the Investment Commission had a meeting to sel ect projects eligible for budgetary support fr om the Investment Fund of the Russian Federation. The application filed with respect to the comprehensive investment project “Belkomur” (White Sea – Komi – Urals) qualified as compliant with the tasks, purposes and requirements of the Rules for forming and using budget allocations of the Investment Fund of the Russian Federation. The Investment Commission of the RF Regional Development Ministry deemed it necessary to send the Belkomur application for adjustment in terms of the project timeline subject to the federal budget capacity for 2010 and resolved that said project should be recommended for consideration at the meeting of the government commission for investment projects of national importance. Vegas Lex has been engaged in providing comprehensive legal support to the Belkomur project since its commencement in 2007. This project involves launching of an end-to-end railroad service between Arkhangelsk, Syktyvkar and Perm and implementation on this basis of a series of investment projects designed to create and develop industrial enterprises engaged in manufacturing potash fertilizers, high-level wood-processing, production of titanium and titanium-based products, oil and gas processing, production of cement and construction materials. The primary purpose of the project is the industrial and infrastructure development of the Perm Territory, Komi Republic and Arkhangelsk Region and improvement of the core transport network of the Russian Federation. |
