Murmansk Region's business resident plans to make soil, fertilizers for coniferous trees
MURMANSK, February 17. /TASS/. An investor will create an enterprise in the Russian Federation's Arctic Zone in the Murmansk Region to produce special soil and fertilizers for coniferous trees. The enterprise will offer first products in 2029, and additionally the investor will organize a nursery to grow and sell about 3,000 seedlings of 2-3 years-old spruce and pine trees with a closed root system, the Far East and Arctic Development Corporation's press service said.
"The Agroterra-M Company, a business resident of the Russian Federation's Arctic Zone, will create a nursery to grow pines and spruce trees in the city of Kola, the Murmansk Region," the press service said. "The company will produce specialized soil and fertilizers for coniferous trees. Its products will be used in reforestation, and in landscaping of public and private areas."
Under an agreement with the Far East and Arctic Development Corporation, investments in the project will make 95 million rubles ($1 million). The company will start selling seedlings and soil in 2029. According to the company's CEO Denis Shpilivy, Agroterra-M will simultaneously produce and store more than 10,000 cubic meters of fertile soil and will grow about 3,000 seedlings of spruce and pine trees aged 2-3 years with a closed root system. The planting material will be used for landscaping and restoration of forests by gardening companies, associations, and homeowners.
"Arctic business residents in the Murmansk Region are not subject to land tax for 3 years and to property tax for 5 years. The Corporation subsidizes 75% of insurance premiums during 10 years of residency. During the first 5 years, the income tax rate is 5%, from the fifth to the tenth year - 10%. <...> Businesses have invested 53.02 billion rubles ($587 million) in the region's economy, created 3,088 jobs, and 50 investment projects have been put into operation," the press service reported.
