Reconstruction of private enterprises will be possible through PPP

The Ministry of Economy has prepared a bill on the possibility of reconstructing private industrial facilities through public-private partnership (PPP) mechanisms. State participation in such projects can amount to up to 50% of all expenses, but they must comply with the technological taxonomy approved by the authorities and cost at least 10 billion rubles. As the department explains, the measure is aimed at supporting large projects in priority sectors.

The Ministry of Economy has prepared and submitted for approval draft amendments to the PPP law. Let us remind you that the need to expand the capabilities of this mechanism in industry has been discussed for at least a year. So far, according to the Ministry of Economy, only one PPP project is being implemented in this area – with a total size of the PPP market of 4 thousand projects worth 4.2 trillion rubles. (and 3 trillion rubles are private investments).

The reason for this situation is regulatory restrictions. Currently, the implementation of PPP projects for the reconstruction of only state-owned industrial facilities is allowed. The amendments propose to allow reconstruction of private facilities through PPP. But such projects will have special requirements. The share of state participation can be up to 50% of all project costs (as a general rule – less than 100%), it must comply with the taxonomy of technological sovereignty (list of priority types of production – see Kommersant on April 18) and provide for investments in the amount of 10 billion rubles The investor’s own funds must be at least 20%.

The conclusion of agreements on reconstruction through PPP of private facilities will occur only at the federal level and as a private initiative. The investor will send a proposal for the implementation of the project to the government – it will be considered at the departmental level (with the approval of the Ministry of Finance and the Ministry of Economy). The decision to approve the project is published – if no other applications are received, then an agreement will be concluded with the initiator (otherwise a competition will be announced).

As First Deputy Head of the Ministry of Economy Ilya Torosov explains, the changes are aimed at supporting large projects “in industries critical to techno-sovereignty.” With their adoption, he said, the department expects the growth of PPP projects in industry next year.

VEB.RF supports the idea, noting that it will contribute to the emergence of “a new tool for supporting projects in industry.” The Association of Infrastructure Investors and Lenders, as noted by its executive director Vadim Kalinin, also welcomes the changes, calling them “important and structural.” At the same time, according to Vadim Kalinin, it is worth “extending the mechanism also to regional projects and carefully considering the risks when implementing such initiatives.”

Anna Batueva, director of the legal practice of Trust Technologies, notes that within the framework of PPP, the state can provide special support measures – for example, a minimum guaranteed income, that is, payment to the private partner of the difference between planned and actual revenue. “This shifts demand risk to the public side, and when it comes to commercial demand, this requires careful justification,” she explains. In this regard, Anna Batueva believes, the idea of ​​allowing PPP in relation to private enterprises only for technical sovereignty projects is justified. The National PPP Center believes that the threshold of 2 billion rubles is also justified. private investment (without debt) – taking into account the importance of preserving property. However, the center notes that the bill does not change the rule on early termination by a court decision in connection with a significant violation by a private partner of its terms, under which the object is subject to transfer to a public partner – and “this creates a potential risk for investors.”

Evgenia Kryuchkova