RF Government approves establishment of Kamchatka PDA

RF Prime Minister Dmitry Medvedev has signed a decree on establishment of one more area of priority socio-economic development in the Far Eastern Federal District – Kamchatka, says the press center of the Ministry for the Development of the Russian Far East. This PDA will be presented to the investors at the Eastern Economic Forum (EEF) in Vladivostok together with other 8 PDAs approved earlier.

According to Aleksandr Galushka, RF Minister for the Development of the Russian Far East, “13 companies – potential residents of Kamchatka PDA - have confirmed their intent to participate in PDA projects with total investments of at least RUB 28.1 bln”.

Kamchatka PDA will be established at eight major investment sites of Petropavlovsk-Kamchatsky and Yelizovo agglomerations. Total area is to make 2,246 hectares. Budget allocations for infrastructure – RUB 8.45 bln.

Kamchatka PDA is to ensure the creation of a tourism and recreation cluster, state-of-the-art industry complexes and container transit hub port to accumulate and handle of containers transported along the Northern Sea Route. In particular, modernization of port Petropavlovsk-Kamchatsky is to boost its annual throughput to 8 mln t. Cruise tourism development will be supported with the construction of dedicated berths, a passenger terminal and other infrastructure facilities. The project provides for creation of a resort area Paratunka, hotel and recreation complexes in Petropavlovsk-Kamchatsky, airport development. The list of residents will also include agricultural companies set to establish greenhouse complexes.

The forecasts say new PDA will ensure the increase the flow of tourists from 61,000 persons in 2014 to 820,000 persons by 2025.