Energocom stock company to benefit from facilities at carrying out project on consolidation of energy security

Chisinau, 28 July /MOLDPRES/ - The Energocom stock company has been exempted from the obligation to guarantee the reimbursement of the loan for the carrying out of the project titled, Natural Gas Supply Security. The concerned draft law was adopted by the parliament in the second reading today.  

Under the document, the company will benefit from fiscal and customs facilities at the import and deliveries of goods meant for the project, the value of which is of 300 million euros.  

The project is carried out based on the agreement on loan between Moldova and the European Bank for Reconstruction and Development (EBRD). The signing of the contract on re-crediting between the Finance Ministry and Energocom is a precondition filed by EBRD for the agreement’s entrance into force. The enterprise does not hold enough assets for covering the equivalent value of the sum which makes the object of the contract; thus, at the conclusion of this contract, the company is to guarantee the reimbursement through the signing of the pawn contract.   

Also, through derogation from the provisions of the Fiscal Code and Customs Code, Energocom is exempted from the payment of the value added tax (VAT) without deduction option, from the payment of excise duties, customs duty and other taxes. The way of enforcement of the concerned fiscal and customs facilities is established by the cabinet.

The Energocom stock company is with fully state-owned capital.