ANNOUNCED AS TEMPORARYNo
On January 20, 2014, the Government of the Russian Federation approved Resolution No. 41 introducing rules for the allocation of federal budget subsidies to Russian leasing companies.
The scheme seeks to promote the renewal of the cargo wagon fleet. To this end, the Russian government provides domestic leasing companies subsidies to counter temporary revenue shorftalls when they purchase high-tech cargo wagons with axle load capacity of 25 tonne-force and more.
The purpose of the document is to create incentives for the Russian leasing companies to purchase high-tech cargo wagons with the mentioned specification and to create conditions for the scrapping of obsolete cargo wagons. A more general purpose is the development of the local industry and the increase of its competitiveness.
With Federal Law No. 349/2.12.2013 a total of 7.1 billion Roubles (US$ 200 million) are stipulated for the implementation of this state measure, from which 2.61 billion Roubles in 2014, 2.35 billion Roubles in 2015 and 2.22 billion Roubles in 2016.
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