GeoGenesis has signed an agreement on the protection and promotion of investments with the Government of Bashkortostan

GeoGenesis, the initiator of the reclamation project of man-made polluted lands in the city of Sibai, has signed an Agreement on the protection and promotion of investments with the regional Government. The document guarantees the initiator of the priority investment project the consolidation of the conditions in force at the time of the agreement, as well as the provision of state support measures. The concept of the initiative involves the construction of a complex for the extraction of useful components from waste, production and transportation of the product for the reclamation of quarries. This project is accompanied by specialists from the Bashkortostan Development Corporation.

We have been supporting the GeoGenesis project from the very beginning and now together we are systematically approaching the beginning of its immediate implementation. Having invested about 1.6 billion rubles in the project, the investor intends to carry out the reclamation of the Sibai tailings dam in order to restore the fertility and biological productivity of lands subject to man-made pollution during the activities of the ore mining and processing enterprise. 75 new jobs will be created at the enterprise and 12 more will be saved. I would like to note that the investor already has experience in testing the technology for the reclamation of the Uchalinsky quarry and the purification of mining storages in other regions of Russia, as well as Kazakhstan and Uzbekistan, explained Nail Gabbasov, General Director of the Development Corporation of the Republic of Bashkortostan.

Earlier, under the supervision of specialists from the Development Corporation, the GeoGenesis project was presented to the Head of the region and included in the List of priority investment projects of the Republic of Bashkortostan (PIP RB) in order to obtain state support measures in the form of leasing a land plot without bidding, subsidies to reimburse part of the costs of creating engineering and transport infrastructure facilities, as well as exemption from corporate property tax.

According to the investor, cooperation with the Development Corporation has a positive effect on the passage of all stages of the project. Thus, the business plan developed by the department's specialists served as the basis for including the project in the PIP of the Republic of Belarus in order to obtain the requested state support measures for its implementation. In addition, assistance was provided in cooperation with the Administration of the city of Sibai regarding the settlement of issues on the land plot. Joint work on solving these and other issues led to the recognition of the project as large-scale, the provision of state support measures and the conclusion of an agreement on the protection and promotion of investments with the Government of the Republic. The investor's cooperation with the agency will continue until the project is fully implemented.

It should be noted that this initiative corresponds to the goals, objectives, priorities and main stages of the Strategy of socio-economic Development of the Republic of Bashkortostan for the period up to 2030, according to which the goals of the region in terms of improving the environmental situation are to reduce anthropogenic pressure on the environment by reducing emissions into the atmosphere, as well as protecting the population and economic facilities from negative impacts polluted waters.