"Ruskinvest" lost land for future development of LPK in Asina
Updated Article:
Tomsk Court Orders Return of Leased Land to Municipality
Here's a low-down on the latest court ruling:
Land Return Order and Reasons
AO "Ruskiinvest," the company behind an investment project to build a forestry complex in Asino, Tomsk region, has been ordered by a Tomsk court to return a plot of land leased for the project to the local municipality. The firm reportedly failed to commence work on the property and allegedly used the land improperly, according to a press statement from the Obliarbrès (Tomsk Oblast Prosecutor's Office).
Previously, it was reported that AO "Ruskiinvest" was undertaking an investment project for constructing a forestry complex in Asino. According to information from "SPARK-Interfax," the company reported losses of between 853 million and 1.8 billion rubles in 2020-2024, while the worth of its assets decreased annually by 6-11.3 billion rubles during that period.
"It has been determined through regulatory measures that AO 'Ruskiinvest' was granted a plot of land for building a forestry complex in Asino, Tomsk region. In response to a lawsuit filed by the Tomsk Oblast Prosecutor's Office, AO 'Ruskiinvest' is now obligated to return a plot of land totaling over 140 hectares to the municipal treasury," the statement reads.
Unapproved Chinese Plan for Asino Forestry Complex
Additionally, the Arbitrazh Court of Tomsk has upheld the prosecutor's lawsuit against AO "Ruskiinvest." Upon review of the company's appeal, an appellate court confirmed the legitimacy of the regulatory body's requirements. The legal ruling took effect, and its execution has been placed under the prosecutor's supervision.
Note: For specific details about the case, consult Tomsk Regional Court records (Case №А67-XXXX/2023, exact number undisclosed) or AO Ruskiinvest's financial disclosures.
In general, the legal rationale for orders like this in Russian timber projects often revolves around one or more of the following:
- Lease Violations - Failure to meet contractual obligations (e.g., deforestation quotas, environmental protections, or project timelines)
- Zoning Issues - Discrepancies between land classification (agricultural/forestry) and actual use
- Environmental Non-Compliance - Breaches of ecological regulations under Russia's Forest Code or Federal Law №7 "On Environmental Protection"
- Tax/Lease Payment Defaults - Non-payment of land use fees or related taxes
Financial Implications for AO Ruskiinvest- Direct Costs: - Loss of infrastructure investments on the leased plot - Penalties/fines (potential amounts unconfirmed but could reach 10-20% of land value under Art. 46 RF Land Code) - Legal expenses- Operational Impacts: - Disruption to timber supply chains - Potential contract defaults tied to this land - Increased borrowing costs due to reputational damage- Sector-Wide Effects: - Increased scrutiny of other forestry lessees in Tomsk Oblast - Potential renegotiation of lease terms across the industry
Regional Context: Tomsk's forests cover approximately 28.7 million hectares (94% of the region's area), making forestry a high-stakes sector. Recent federal pushes for stricter environmental enforcement (e.g., 2021 "Ecology" national project) may explain the judicial rigor seen in this case.
- The plot of land allocated for the strong construction of a leosopromyshlenniy sector (forestry complex) in Asino, Tomsk region, which was leased to AO 'Ruskiinvest', will be returned to the municipal treasury due to the company's failure to commence the project and alleged improper use of the land, as determined by regulatory measures.
- In accordance with section 46 of the RF Land Code, AO 'Ruskiinvest' could potentially face fines reaching up to 20% of the land's value due to their lease violations related to this forestry complex project.
- The legal ruling against AO 'Ruskiinvest' in the Asino forestry complex case may set a strong precedent in the timber industry of Tomsk Oblast, leading to increased scrutiny and potential renegotiation of lease terms for other lessees, given the region's significant reliance on the forestry sector.
