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656122
Wed, 03/22/2023 - 14:52
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China Petroleum Engineering Corporation plans to participate in Nenets Region's projects

TASS, March 22. The China Petroleum Engineering Corporation offers to the Nenets Autonomous Region technologies for implementation of petrochemical and energy projects in the region. The corporation's delegation is paying an official visit to the region, the governor's press service told TASS on Tuesday.

"Naryan-Mar (the region's center) has welcomed a delegation of the China Petroleum Engineering Corporation," the press service said. "To the Nenets Autonomous Region the Chinese investors are offering infrastructure technologies, design solutions, as well as supplies and installation of equipment. There are many opportunities: more than 300 national patents and 40 unique technologies."

The Chinese delegation has discussed with the region's Governor Yury Bezdudny the projects, in which the Chinese corporation could participate. The governor has invited potential businesses to get registered in the region and to enjoy tax incentives. He also voiced a binding condition for this cooperation - the businesses must employ local residents with skills sufficient for projects' implementation.

The engineering company, which representatives are visiting the Nenets Autonomous Region, is engaged in infrastructure projects in various sectors, including oil and petroleum chemistry, and the energy sector. In Russia, the company has participated in projects in the Far East, and now it eyes new projects north of the Arctic Circle.

A few big projects are being implemented in the Nenets Autonomous Region, including a joint venture of Gazprom and Lukoil, a gas chemical complex - Roshim Group of Companies' project, and the Indiga port with a rail line from Sosnogorsk.

The Arctic zone's residential status implies a number of preferences, including tax incentives. Any business, registered in the Arctic, that is ready to implement a new investment project and to invest at least 1 million rubles ($1,300), may become a resident. The residents receive without bidding land plots, owned by the state or municipalities - this provision is applicable to all small and medium-sized businesses registered in the region.

 

 

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