Permian and Metafrax Chemicals sighned SPIC of first in Russia paraformaldegid production

June 6, within the framework of the St. Petersburg International Economic Forum (SPIEF), a special investment contract (SPIC) was signed on the implementation of a project for the construction of formalin and paraformaldehyde industrial plants in Gubakha.

The agreement was concluded between Perm Krai and PJSC «Metafrax» for a period of 9 years. The document was signed by the Governor of Perm Krai Maxim Reshetnikov and the General Director of PJSC «Metafrax» Vladimir Daut.

The document confirms the company's readiness to build a new paraformaldehyde production plant in Perm Krai. As part of a special investment contract, the region will provide Metafrax the right for tax benefits and preferences.

The planned capacity of paraformaldehyde plant will be 30 thousand tons per year. Moreover, the investment project involves the construction of a formalin plant with a capacity of 180 thousand tons per year. The project is worth more than 5.2 billion rubles and is scheduled to be completed by the end of 2021.

The Chairman of the Board of Directors of PJSC «Metafrax» Armen Garslian noted the importance of state support in the development of the company. “Today, the investment portfolio of Metafrax exceeds 75 billion rubles excluding VAT. The implementation of investment projects and the construction of new productions will provide additional tax deductions to the relevant budgets of the Russian Federation, Perm Krai and the city district of Gubakha, as well as contribute to the overall socio-economic development of the region,”said Armen Garslian.