Spox: Severgroup expects 400 bln rbl aid under invest support law

MOSCOW, Nov 5 (PRIME) -- Severgroup of tycoon Alexei Mordashov expects a more than 400 billion ruble support in the framework of the law of protection and promotion of investments, a representative of the group told PRIME on Tuesday.

“Severgroup presented projects worth more than 400 billion rubles to the workgroup (for the bill), all of them will favor fulfillment of the national priorities,” the representative said.

“The largest of them are a project of a paper mill in the Vologda Region of company Sveza, production of gas turbines by Power Machines and upgrade projects for the first processing unit on a Severstal smelter in Cherepovets.”

Deputy Finance Minister Andrei Ivanov said last week that the government had submitted the bill to the State Duma, the parliament’s lower house.

(64.0316 rubles – U.S. $1)

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