Special Economic Zones go up in price
Less funds designated for port areas, Russia’s government will spend roughly 148 billion rubles by 2010 for the infrastructure of Special Economic Zones, Kommersant reports according to RZD-Partner. The analysts say the figures have surpassed all expectations of investors. Establishing budget of Special Economic Zones will step up 20 percent to 50 percent, and the private business will have to allocate 200 billion rubles.
Federal Agency for Special Economic Zones made public yesterday detailed data on state investments in Special Economic Zones, including seven Tourist and Recreation Zones, four Engineering and Promotion Zones and two Industrial and Production Zones.
It emerged that another 86 billion rubles will be spent to develop adjacent territories in addition to money of federal and local budgets that will fund internal infrastructure of Special Economic Zones (62 billion rubles).
“Internal infrastructure is developing for account of money funneled via the Federal Agency for Special Economic Zones, while the external one (roads, airports, etc.) is financed via the federal target investment program and by money of natural monopolies – RAO UES of Russia, RZD, Gazprom,” specified Economic Development Minister German Gref.
Overall state investments in Special Economic Zones’ infrastructure are estimated at around 148 billion rubles. But this amount excludes costs for creating port areas. As Economic Development Ministry is willing to set up four such areas, each of which costing 3 billion rubles to 4 billion rubles, according to Federal Agency for Special Economic Zones, the additional amount will be 12 billion rubles at the minimum.
Federal Agency for Special Economic Zones made public yesterday detailed data on state investments in Special Economic Zones, including seven Tourist and Recreation Zones, four Engineering and Promotion Zones and two Industrial and Production Zones.
It emerged that another 86 billion rubles will be spent to develop adjacent territories in addition to money of federal and local budgets that will fund internal infrastructure of Special Economic Zones (62 billion rubles).
“Internal infrastructure is developing for account of money funneled via the Federal Agency for Special Economic Zones, while the external one (roads, airports, etc.) is financed via the federal target investment program and by money of natural monopolies – RAO UES of Russia, RZD, Gazprom,” specified Economic Development Minister German Gref.
Overall state investments in Special Economic Zones’ infrastructure are estimated at around 148 billion rubles. But this amount excludes costs for creating port areas. As Economic Development Ministry is willing to set up four such areas, each of which costing 3 billion rubles to 4 billion rubles, according to Federal Agency for Special Economic Zones, the additional amount will be 12 billion rubles at the minimum.