The Russian Government has allocated RUB 13.8 bn to support six investment projects in the Far East of Russia, says the press center of Ministry for Development of Russian Far East. Tayozhnoye deposit development project (Stage 1) is one of six approved investment projects to be supported by the State. Timir will receive RUB 1,62bn for the construction of energy infrastructure and railway station. Construction of these assets will commence in 2016.

On May 15, 2015, an agreement on social and economic cooperation between Timir and indigenous community «Bugat» was signed in Yakutia. According to the Agreement indigenous community «Bugat» can use Tayozhnoye deposit development project for employment, cultural development, advancement of education and support of traditional and new community activities.

According to the decree №484-p of March 23, 2015, signed by the Russian Prime Minister Dmitry Medvedev, Tayozhnoye deposit development project is among six investment projects in the Far East, which would receive State support, says the Government press center.
The total planned amount of Government investments is RUB 16.8 bn.

Feasibility studies executed by scientific & technological center «Geotechnology» for construction of energy transmission facility and operations support yard of Tayozhnoye iron ore deposit approved by State Expertise of the Sakha Republic (Yakutia) in March, 2015

Prime Minister of the Sakha Republic (Yakutia) Galina Danchikova and Managing director of CJSC «MCC «Timir» Mikhail Makarov signed an agreement on social and economic cooperation.

This agreement assumes several diverse mutually beneficial steps in respect of social and economic development of the Sakha Republic (Yakutia) within the framework of the Timir project.

Under the Agreement, Timir is expected to receive full exemption from income tax to the federal budget for ten years and a five-year exemption to the regional budget. In addition, it implies preferential mineral extraction tax rate.