Indian Journal of Science and Technology

Abstract

The article deals with increase in the investment appeal of the economic systems specialized in mineral resource by means of forming a modern innovation infrastructure through the implementation of socially significant investment projects in the format of concession agreements. It justifies that the committed partnership mechanism existing in Western countries in the relations between the state and business entities within the concession agreements, reflecting the economic aspects of the liberal concept of development and provisions of the stakeholder theory and based on the principles of publicprivate partnerships, is recognized as an effective economic mechanism for implementation of investment projects relating to the efficient use of infrastructure. It is stressed that in Western countries, such a mechanism is formed in the presence of an appropriate institutional environment and legal framework which ensures the functioning of the partnership relations. The article reveals organizational and legal nature of the concession mechanism: the main principles of organization and basic schemes for investment project implementation under concession agreements are described. It is argued that it is possible to use the represented mechanism in the Russian conditions to create and reconstruct the infrastructure facilities necessary for the development of the specialization sectors of economic systems and the mining industry enterprises, which form the basis of industrial agglomerations. In order to employ the world experience in implementing similar projects in the Russian environment, the analysis of the organizational and legal nature has been carried out and the possible concession scheme for project implementation in accordance with applicable law have been described.
Keywords: Concession Agreement, Concession Object, Concession Scheme, Investment Appeal, Investment Project