Peterpipe has become a resident of Borovichi PSEDA

Peterpipe LLC is registered as resident of Borovichi Priority Social and Economic Development Area. This information was released by the Russian Federation Ministry of Economic Development.

As our readers may know, the company manufactures polyethylene pressure pipes and matching fittings for water and gas transportation.

The volume of capital investments in the project will amount to 87.3 million rubles (exclusive of VAT), of which 34.7 million rubles will be invested during the first year. The enterprise will hire 25 people. First consignments of pipes will be used for implementation of the Regional Gas Supply and Gas Infrastructure Expansion Program.

Peterpipe has become the tenth resident of Borovichi PSEDA.

Thanks to residency at PSEDA, during the first five years of operation the company property will be non-taxable, and in the following five years the applicable tax rate will constitute 1.1%. The rate of the Federal portion of income tax during the first five years is equal to 0%. The rate of the regional portion of income tax is equal to 5% and 10% during the first and the following five years, respectively.

Borovichi PSEDA functions within the framework of the “Formation and Development of Modern Infrastructure in the Novgorod Region for Entities Involved in Investment and Business Activities in 2022” priority regional project. It is aimed at the increase of investment activity and support of small and medium business.