ARKHANGELSK, April 3. /TASS/. The Arkhangelsk Region is a leader in the number of implemented investment projects in the Russian Federation's Arctic Zone, Governor Alexander Tsybulsky posted on Telegram.
The region's business residents have implemented 57 of 100 investment projects.
"Of the first hundred investment projects, implemented in the Russian Federation's Arctic Zone, more than a half, namely 57, are projects in this region. Businesses have invested 10 billion rubles ($130 million), where 6.3 billion ($82 million) have been invested in the Arkhangelsk Region's economy. We also lead in terms of new jobs in the Arctic Zone - 1,380. It is more than one in two new jobs," he wrote.
The most capital-intensive industries in which Arctic residents are involved are logistics and transport. The investment project to increase cargo transportation along the Northern Sea Route, implemented by the Northern Project transport and logistics company, is one of the biggest projects. While enjoying the status of the Russian Arctic business resident, the company has acquired six vessels. Arkhangelsk will be their home port. The company plans to increase cargo traffic by 700,000 tons per year. Investments in the project have reached 2.2 billion rubles ($28 million). At the next stage, the company plans to establish a ship building and repairing enterprise.
Another major transport project was implemented by the Eco Shipping Company, which is also based in the port of Arkhangelsk. The investor owns a multifunctional fleet to ship different types of cargo. The services are offered at all key ports of the Northern Sea Route, as well as in the Baltic, Northern and Mediterranean Seas. The company has invested 1.4 billion rubles ($18 million) in the purchase and upgrade of three high-ice-class cargo ships, one of which has been purchased with funds of a preferential loan. Thus the company's fleet has grown to 11 vessels, excluding service, tow and barge vessels.
The Arkhangelsk River Port has the status of the Russian Arctic business resident. Over two years, it has equipped new berths, a large warehouse area and formed a cargo terminal - the port's third cargo terminal. Investments in the project have exceeded 210 million rubles ($2.7 million). The development of the Yamal Peninsula's oil and gas fields and the implementation of other federal projects have increased significantly cargo traffic through the Arkhangelsk River Port. Over the past navigation, it handled 3,300 wagons with various cargoes from all over the country. The port has handled 47 large-tonnage vessels at the new terminal berths, and shipped 150,000 tons of general cargo. The port, which has purchased a 500-ton crane, expects further growth in cargo traffic in the current year.
Incentives for Arkhangelsk Region's business residents
The Arctic Zone's business residents in the Arkhangelsk Region enjoy income tax benefits: for the first five years from the first profit, the rate of 5% will be applicable, for the next five years - 10%. Tax rates on corporate property for the residents are as follows: for the first five years - 0.1%, for the next five years - 1.1%. The special rates are applicable for five tax periods, provided the resident is not liable for overdue taxes, fees or insurance premiums.
