Investment projects in the field of rare earth metals will receive state support
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Technologies for the production of certain rare earth metals (REM) are included in the list of initiatives that companies can implement on preferential terms under special investment contracts (SPIC).
SPIC can be concluded using the extraction separation technology of a collective concentrate of rare earth elements to produce individual compounds of lanthanum, cerium, neodymium, praseodymium and a collective concentrate of a medium-heavy group of rare earth elements (samarium, europium, gadolinium, terbium, dysprosium, yttrium).
These innovations are due to the import substitution of materials used in the production of individual rare earth elements, the development of related industries, export supplies and the creation of demand for these products in Russia.
The consumption of rare earth metals accounts for the production of magnets, which are used in wind power and electric vehicles, hybrid engines of machines, and the military industry. REM is also used in the glass industry, in the manufacture of catalysts used in the oil production and refining industries, exhaust gas neutralization and wastewater treatment.
The special investment contract stipulates that the investor undertakes obligations for the implementation of an investment project to create a serial industrial production. At the same time, the state ensures that conditions, including tax conditions, remain unchanged at the federal and regional levels. Until 2019, the SPIC was concluded for a period of up to 10 years and did not impose strict requirements on the technologies used in the implementation of the project.
Since 2020, an updated version of the mechanism, SPIC 2.0, has been in effect. Its parameters imply the need to include the implemented technology in the list of modern ones, which is approved by the government. SPIC 2.0 contracts are concluded for a longer period (up to 15 years for projects with investments of up to 50 billion rubles, up to 20 years for projects worth over 50 billion rubles), require a competitive selection of participants, and do not set limits on the minimum amount of investment.
Information on support measures is posted on the Investment Portal of the Krasnoyarsk Territory . For advice, please contact the Yenisei Siberia Development Corporation by phone: +7 (923) 322-33-07, e-mail: invest@ensib.ru .
