The Arbitration Court of Primorsky Krai ruled to strip the company Primorsky Gaz of its resident status in the Free Port of Vladivostok for failing to meet its investment obligations. The decision was published in the case index on the court's website.
The project provided for the construction and launch of a mini-plant for the production of liquefied natural gas, as well as the operation of a station for the output of compressed natural gas.
The agreement between the investor and the Far East and Arctic Development Corporation was concluded in 2019. The project was planned to be launched in 2020–2022, and the total declared investment was supposed to exceed 449.6 million rubles.
However, the new production facility was not built within the established timeframe, and the investments were not actually made. The corporation sent notices to the resident demanding that the violations be remedied, but no response followed. As a result, the matter was sent to court.
The company will now be stripped of its FPV resident status, which means the loss of the tax benefits provided for.
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