The Federal Agency for State Property Management intends to allocate nearly 85,497,000 rubles for defending Russia’s interests in the conflict with the Indian shareholder in the Titanium Products Private Ltd. (TPPL) joint venture, reports "Interfax" referring to the public procurement website.
Results of the application for legal services were announced on 8 September. The Lawyers’ office "Egorov, Puginsky, Afanasiev and Partners" from St. Petersburg became the service provider, which defends Russia's position in the dispute with India since 2013.
It is noted that the legal services were to be provided by December 1, 2016.
In January 2007, Russia and India created the Titanium Products Private Ltd (TPPL) joint venture, where Russia received 51% of the shares, 45% were received by the Indian Saraf Agencies, and 4% was received by the Russian Technochim Holding. By 2010, it is planned to build chemical and metallurgical complex with capacity of 40 thousand tons of titanium dioxide, 132 thousand tons of tetrachloride titanium, 10 thousand tons of titanium sponge and 108 thousand tons of titanium slag per year. The total investment in the plant would be about $ 126 million and it was planned to use part of India's debt to Russia in financing it.
Later, a conflict broke out between the shareholders, which led to a protracted dispute between the parties. In 2010, the Indian government declared its withdrawal from the joint venture and the willingness to transfer land for the construction of the complex subject to compensation of costs.
First published in Russian by Gazeta.ru.
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