Russia to spend more than $242M on subsidies to encourage project investors in the Far East
The Russian Government has allocated RUB 13.8 billion ($ 242.3 million) of subsidies to investors implementing projects in the Far East, the government's official website said.
The government has appropriated in the 2015 budget RUB 2.7 billion for this purpose. Russian Prime Minister Dmitry Medvedev has signed the corresponding decree "On the granting of subsidies for the creation and reconstruction of infrastructure in the framework of implementation of investment projects in the Far East and the Baikal region", July 13, 2015 (№ 1339-r).
"The funds are allocated for infrastructure development in the framework of the six investment projects, which will result in the creation of enterprises engaged in gold mining and processing in the Kamchatka Territory and the Amur Region, of iron ore plants - in the Republic of Sakha (Yakutia), the coking coal concentrate production enterprises - in the Republic of Sakha (Yakutia) and the Khabarovsk Territory, as well as a transport and transshipment facility for handling coal in the Khabarovsk region," the document reads.
The government believes the implementation of investment projects will attract to the Far East more than RUB 125 billion of private investment and will help create more than 8,000 jobs.