Volgafert to be included in the Togliatti Advanced Development Zone
Volgafert (a joint venture of KuibyshevAzot and Italian Maire Tecnimont Group) will become a resident of the Togliatti Advanced Development Zone (ADZ, Samara Region).
Volgafert is planning to set up production of granular urea with a capacity of 1.5 thousand tons per day in the Togliatti ADZ. Investments in the project will amount to 19.5 billion rubles, and 60 new jobs will be created.
Companies not affiliated with AvtoVAZ can also become residents of the Togliatti ADZ. An investor must comply with the basic requirements for production location: to create over 20 jobs and invest at least 20 million rubles (5 million rubles in the first year).
In its turn, the company is given income tax benefits (between 2% and 10% depending on the year of the project implementation), zero rates for property and land taxes, and a 7.6% rate for insurance benefits (instead of standard 30%).