First Arctic zone residents signed agreements

First Arctic zone residents signed agreements

October 08, 2020

The new economic policy, benefits and state support in the Arctic are becoming more widespread among all categories of business

The Far East Development Corporation signed the first agreements with residents, whose projects in the Arctic zone were previously approved by the commission of the Ministry for the Development of the Far East and the Arctic.

According to the corporation press office, the first resident, the Nord Star Murmansk company, plans to implement a project for the technical re-equipment of the Vitino seaport and the Belomorskaya oil depot in the Murmansk region. In addition, the company intends to modernize and build transformer substations in the port, reconstruct treatment facilities and sewerage networks in the White Sea settlement.

“As a result of the project, the Vitino terminal will become a city-forming enterprise in the village of Beloye More and will provide social facilities with energy carriers. In addition, the White Sea residents, as well as residents of the Kandalaksha village and other nearby settlements, will have stable wages and social guarantees. We will create 246 new jobs”, said Denis Martynov, General Director of Nord Star.

The investor expects spend about 2.5 billion rubles on the project. Commissioning of the facility is scheduled for the first quarter of 2022.

The second resident is an individual entrepreneur Tamar Kiss. He is implementing a project to organize a laundry production in Salehard. The investor plans to construct a building and purchase equipment to provide services to the population for washing and dry cleaning of textiles and fur products, investing 16.7 million rubles. The new enterprise will create seven jobs.

“Based on the example of the first applications, we see that the new economic policy, benefits and state support in the Arctic are becoming more widespread among all categories of business. On equal terms and within the framework of a unified approach, both an investor with billions of dollars and representatives of small and medium-sized businesses can obtain the RF AZ status resident. By concluding an agreement on investment activities, each of them can implement a business plan, receiving benefits for federal, regional, local taxes and a number of administrative preferences. And by the end of 2020, regional benefits for property tax, land tax and the regional part of income tax will be adopted”, said Dmitry Tetenkin, CEO of the Far East Development Corporation.

Text: Angelica Stepanova, Photo:

October 08, 2020

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