RF Government expands limits of Arctic Capital PDA in Murmansk Region
A container terminal for international seaborne transit will be built on the added territories
The limits of the priority development area “Arctic Capital” in the Murmansk Region will be expanded, which is to allow for the construction of a logistics complex. A relevant decree has been signed by Prime Minister Mikhail Mishustin, according to the press center of RF Government.
A container terminal for international seaborne transit will be built on the added territories. It will handle ice-class ships able to operate on the lanes of the Northern Sea Route. The construction of the logistics complex is to be completed by 2026.
The project will let attract RUB 46.4 billion of private investments and generate over 700 network jobs.
PDA is a special instrument which aims to stimulate the development of priority sectors of the economy and attract new investors. DPA residents are provided with a wide range of benefits and privileges including reduced taxes and insurance rates as well as a free customs zone regime.
As of today, Arctic Capital PDA numbers nine residents with the scope of their investments totaling RUB 129.9 billion. About 2,6 thousand jobs have been created under their projects.