14th Advanced Special Economic Zone to be created in Sakha Republic (Yakutia)
14 October 2016
Seven mining and transport/logistics projects will be implemented at two sites, with a total of RUB 24.7 billion in private investment, reports a press release from the Ministry for the Development of the Russian Far East.
The Government Subcommittee on the Implementation of Investment Projects in the Russian Far East and Baikal Region, chaired by Deputy Prime Minister and Presidential Envoy to the Far Eastern Federal District Yury Trutnev, has approved the creation of a 14th Advanced Special Economic Zone in the Far East – the South Yakutia ASEZ.
Minister for the Development of the Russian Far East Alexander Galushka noted that this development will provide a new incentive for industrial development in Yakutia, and create modern facilities and new skilled jobs.
“The South Yakutia ASEZ will form the basis of a major industrial centre. Neryungri District itself will be able to offer favourable conditions to attract investors. And the new industrial enterprises will bring additional tax revenue for the region and provide well-paid work for 2,700 people,” the minister said.
As Trutnev noted, a number of projects are being implemented by Kolmar. The company plans to attract additional Russian and foreign investors to the ASEZ. At the Eastern Economic Forum, Kolmar and Japan’s Marubeni Corporation signed a cooperation plan. The two are currently in talks on cooperation in Yakutia’s coal industry.
So far, 13 Advanced Special Economic Zones have been created in the Russian Far East. One hundred and eighty-four formal applications have been received from investors to implement projects, with a combined value of RUB 537.562 billion. Together, these will create 31,300 jobs.