The enterprise from Bashkortostan will expand import-substituting production
The Government of the Republic of Bashkortostan has concluded an agreement on the protection and promotion of investments with the initiator of the construction of the second stage of the plant for the production of industrial enclosures for electrical products by ElCom. The investor intends to expand the existing enterprise located in the Ufa district in order to introduce new technologies into the production lines for wall and floor electrical enclosures and metal structures as part of import substitution. The volume of investments in the implementation of the project will amount to about 650 million rubles. The investment project is supported by the Development Corporation together with the Ministry of Industry, Energy and Innovation of Bashkortostan.
This is the second project of the investor, which is being implemented under the supervision of the Development Corporation. With the support of our specialists, the project was successfully presented to the Head of the Republic and included in the List of priority investment projects in the region with the possibility of applying an investment tax deduction for income tax and exemption from corporate property tax. In addition, we have prepared a business plan that allowed the investor to receive preferential loan financing from the Industrial Development Fund," said Nail Gabbasov, General Director of the Development Corporation of the Republic of Bashkortostan.
The investor allocated 588.1 million rubles to the implementation of the first stage of the plant's construction, creating 110 new jobs. Production was launched in 2020.
Recall that in July last year, the authorities of Bashkortostan presented a program of work with investors, which significantly simplified the requirements for new projects to receive state support. The innovations made it possible to eliminate bureaucratic barriers, optimize regulatory procedures, and digitize the project support process. One of the implemented tools for state support of investment projects was the conclusion of an agreement with the investor on the protection and promotion of investments. When concluding an agreement, the initiator of a priority investment project has the opportunity to implement an initiative with the provision of tax benefits for the profit of the organization, the possibility of obtaining benefits for the property of the organization or the application of an investment tax deduction.
