On March 30, 2016, Far East Development Corporation signed agreements with two new residents of Priority Development Area “Kamchatka”. FEDC says the companies will invest RUB 2.7 bln into the development of Russia’s Far East and create 130 jobs. One of the projects provides for exports of natural drinking water by vessels of up to 75,000 t to APR countries.
Kamchatka PDA was established in 2015. It 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.