The Ministry of Industry and Trade and Segezha Group signed a SPIC 2.0 for the production of CLT panels

Ministry of Industry and Trade, Segezha Group (part of AFK Sistema) The Vologda Oblast and the Sokolsky Municipal District signed a special investment contract (SPIC 2.0) for the production of CLT panels, according to a press release from the department.

“This is the first such contract for both the holding company and the Vologda Oblast. Within its framework, a set of measures of significant state support is being implemented for the Sokol CLT company, which for the first time in Russia has started large-scale industrial production of modern building material – CLT panels. The contract was concluded until the end of 2036. The enterprise will be able to take advantage of tax benefits on profits and property in accordance with the current legislation of the Russian Federation and the Vologda Oblast,” the ministry said in a statement.

As Deputy Minister of Industry and Trade Oleg Bocharov noted, Sokol CLT is the first company in Russia that has introduced the technology of industrial production of large-sized CLT slab panels with a risk-free production volume of up to 50,000 cubic meters. m of finished products per year. According to Bocharov, thanks to the SPIC, the enterprise will be able to provide over 100 jobs.

A SPIC is a framework instrument that guarantees a company non-deterioration of business conditions and tax benefits in exchange for obligations to manufacture products in Russia. It is also the main criterion for confirming that the products are manufactured in Russia. SPIC 1.0 were concluded until 2019 inclusive for a period of up to 10 years. In the second version of the SPICs (SPIC 2.0), which were signed after 2019, the entry threshold for investments was cancelled, the term of the agreement was extended to 15–20 years depending on the volume of investments, and a requirement for a competitive selection of participants appeared.