Ministries of the Republic of Tatarstan Ministry of Industry and Trade of the Republic of Tatarstan

MIT of Russia: competition for subsidies to equipment manufacturers

10 September 2019, Tuesday

Please be informed that the Ministry of Industry and Trade of the Russian Federation is conducting a competitive selection for the right to be granted subsidies from the federal budget to industry participants engaged in mastering the production and sales of pilot batches of capital goods.

According to Decree of the Russian Government No. 634 of April 25, 2017, the mechanism is aimed at providing financial support to organisations in the form of compensation of up to 50 percent of the amount of expenses associated with the production and sales of pilot batches of capital goods, while reducing the price of these products by 15-20 percent off their market price, which contributes to the entry of pilot batches of equipment into the market in the absence of references and operating experience of innovative industrial products.

Subsidies are granted to domestic manufacturers of products related to the sectors of heavy, oil and gas, power engineering, machine tool industry, food and road construction machinery, as well as treatment and disposal of waste for stimulating the introduction of state-of-the-art hi-tech means of production into pilot operation.

All in all, financing is expected to be provided in the total amount of RUB 1.2 billion.

More detailed information is also available on the official website of the Russian Ministry of Industry and Trade at http://minpromtorg.gov.ru

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