Far East Development Fund may beckon Asian operators to manage TOR projects
The Fund for Development of the Far East will actively participate in the creation of Territories of Priority Development (TOR). The Ministry for development of the Far East region said international top operators, primarily from the Asia-Pacific region, might be invited to manage such projects.
Leading companies operating in the market of professional management of large industrial zones are concentrated in Southeast Asia, since in many Asia-Pacific countries the territories with exclusive conditions for business development became the driving force of industrialization, Senior Investments Director of the Fund Andrei Zubkov said.
The Fund for Development of the Far East was founded in November 2011, with authorized fund of RUB 15.5 billion and is part of the unified system established by Russian President and the Government of the Russian Federation. The Fund was created to expedite development of Russia's Far East region.
Previously, DG of the Fund Alexei Chekunkov has said that the fund will seek to ensure the success of the TOR in terms of building modern infrastructure, namely roads, bridges, ports, power lines, etc. The Fund will consider financing of such projects, including concession agreements scheme.