Ministry of Economy supported the project on development of an elevator for storage of grain and oilseeds in Zainsk
The Zainsk elevator for storage of grain and oilseeds for 150,000 tons will receive benefits on the property tax of organizations. State support will be provided by the Ministry of Economy of the Republic of Tatarstan. The authority plans to conclude an agreement on implementation of an investment project with “Zainskiy Elevator” OOO.
According to the document, tax rates will be reduced to 0.1% on property newly created or acquired for the project. A new complex for receiving, storing, cleaning and drying grain with an area of 5.7 hectares was equipped with highly mechanized transport and drying equipment that operates in an autonomous mode. The project implementation will provide the Agrosila holding group of companies with their own capacities for processing and storage of grain, as well as to increase the production volumes of the feed mill direction. Funds released as a result of the provision of tax incentives, the organization plans to use for further modernization of production facilities.
These benefits are provided to legal entities of all forms of ownership, implementing investment projects to create new production facilities in accordance with the priority directions of the investment policy of Tatarstan, determined by the annual investment memorandum of the republic. The grace period from the beginning of the investment can not exceed 7 years, and in the engineering industry tax benefits can be provided for up to 13 years.
A prerequisite for provision of state support is the priority of investment project being implemented and the inclusion in the List of priority investment projects of the Republic of Tatarstan.
Press Service of the Ministry of Economy of the Republic of Tatarstan