Yugra government to compensate equipment leasing expenses to local companies

At the recent meeting of regional government, officials of Khanty-Mansi autonomous district (Yugra) decided to grant subsidies to industrial companies to offset lease payments for equipment used in logging, woodworking and biofuel production.

Compensation will amount to 2/3 of the refinancing rate of the Central bank. State support will be given only to those investors who launched full production cycle, from logging to ready products and the system of converting waste into biofuel, pellets or biomass. The project must be implemented on the territory of Yugra, and investor should allocate at least RUR 30 million into it. All in all, regional budget stipulates RUR 15 million for these subsidies this year.