335 projects worth 667 billion rubles announced for implementation within the framework of the Far Eastern and Arctic Concession program

The first 335 projects worth 667 billion rubles applied for consideration in the investment accelerator (http://ppp.erdc.ru) created by the Russian Ministry for the Development of the Russian Far East and the Corporation for the Development of the Far East and the Arctic. The new mechanism is designed to accelerate the implementation of infrastructure projects in the Far East according to the model of public-private partnership within the framework of the Far Eastern and Arctic Concession program. 

As Deputy Minister for Development of the Far East Anatoly Bobrakov said at the first meeting of the investment accelerator, projects aimed at creating transport infrastructure and housing and communal services (41%), social facilities (34%), related infrastructure necessary for industrial enterprises ( 25%).

The first thirty projects are already being worked out. Among them are the construction of a road as part of the project for the development of the Baimskaya ore zone in Chukotka, gas supply, water supply and complex treatment facilities required for the Amur gas chemical complex, the development of energy infrastructure for the Capital of the Arctic ASEZ, the construction of a children’s camp in Khabarovsk, the modernization of the CHP in the village of Pervomaisky, social infrastructure in the framework of the project for the development of the Udokan copper deposit, port infrastructure for a methanol production complex in the Nenets Autonomous District and a fishing port in Magadan.

As previously stated by the head of the Ministry for the Development of the Russian Far East, Alexei Chekunkov, it is planned to attract 500 billion rubles for the implementation of infrastructure projects under the Far Eastern and Arctic Concession program until 2024.

The investment accelerator, created jointly with the Far Eastern and Arctic regions, development institutions, investors, banks, consulting companies, investment agents, will set up communication and speed up the process of “packing” concession projects, and will help their initiators to attract funding. The first session of the accelerator was attended by representatives of VEB.RF, Sberbank, VTB Group, Gazprombank, FC Otkritie Bank, Rosbank, National PPP Center (VEB.RF), Sberbank PPP Center, InfraOne, IC RZD-Invest JSC, INFRACAP, TsER.RF, Squire Patton Boggs Moscow LLC, Freshfields Bruckhaus Deringer LLP.