Russian President signs law on obligations of investors in seaports

The law regulates relations arising from infrastructure development in seaports

Russian President Vladimir Putin has signed the law on obligations of investors in seaports. The document regulates relations arising from infrastructure development in seaports, the Kremlin says at its official website.

The State Duma of the Russian Federation passed the law in the third reading on 17 June 2021, the Federation Council approved it on 23 June 2021.

Under the Federal Law, construction or reconstruction of seaport infrastructure facilities leading to the increase of capacity and other functional indicators of seaports should comply with investment policy statements containing the list of activities, financial feasibility study, information about planned investments including capital investments, as well as terms of implementation.

Content, form and procedures for development and approval of investment policy statements is to be approved by the RF Government.

Basing on investment policy statements, investor and the Federal Marine and River Transport Agency (Rosmorrechflot), or its subordinate organization, and in some cases supreme government organ or/and municipal executive-administrative body sign an agreement on creation of seaport infrastructure facilities.

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Tags: Russia, seaport, Vladimir Putin