FORT increases the investments in its Russian biopharmaceutical plant

| By | FORT, Investments

The meeting of the Investment Council of the Ryazan region chaired by Oleg Bulekov, the Deputy Chairman of the regional government, reviewed the application of FORT LLC to modify the parameters of the agreement concluded earlier with the government of the region.

The existing investment agreement was signed in April 2011 between the Government of the Ryazan region and FORT LLC.

The pharmaceutical company filed an application to modify the parameters of that agreement. In particular, the capital investments in the project increased from 3.5 billion rubles to 5.7 billion rubles, which requires the extension of the project implementation period.

In addition, the tax proceeds to the regional budget will rise to 1.5 billion rubles, and the number of new jobs will increase from 510 to 744.

The members of the council supported the amendments to the existing investment agreement.

FORT is a national biopharmaceutical company engaged in the development, manufacturing and promotion of biological medicinal products. In 2014, RT-Biotechprom, a holding company of Rostec Corporation, obtained a 25% stake in the Ryazan plant of FORT. In 2015, Ryazan region included the pharmaceutical company in the list of ten business candidates for state support.