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Russia: Lipetsk greenhouses looking to expand with government support

Major greenhouse complexes of Lipetsk region have received property tax relief for five years. The head of the region, Mr. Igor Artamonov, has signed a respective Decree within the Law on Support of Investments in the Economics of Lipetsk region.

LLC Greenhouse complex “Eletskie ovoschi” and LLC “Ovoschi Chernozemya” have started the construction of the next greenhouse phases allocated for vegetable growing.

The investment project of the Eletsk company is aimed at 24 ha of new acreage. The amount of investments should comprise 117 million euros. 442 working places will be created. Production launch is planned for the second quarter of 2021.

The development of the greenhouse complex LLC “Ovoschi Chernozemya” in the Usmansk region with investments amounting to 104 million euros will be carried over within 1.5 years. 199 local dwellers can expect to be employed here. The company is planning to grow tomatoes, cucumbers and lettuce for the local market.

“Upon the results of 2019 the region has already become a Russian leader in greenhouse vegetable growing. This, among others, is the result of attracting investors by means of providing preferential taxation. We expect profit tax losses in the amount of 15.6 million euros during the whole period of the project's fulfillment, which will be compensated to the budget by means of profit tax, employment of more citizens and therefore, providing respective payment to the budget”, noted the Chairman of the Contest for State Support Provision, Vice-Governor, Mr. Dmitry Averov.

Source: www.lipetskmedia.ru


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