Speaking at the plenary session of the 8th Eastern Economic Forum, Vladimir Putin noted that transport projects are important to support business initiatives and for the economy of the Arctic and Russian Far East in general and local residents.

“It is necessary to expand the existing logistics routes and open new corridors for cargo operations,” the President said.

He added that developing the Northern Sea Route has special priority among these projects.

“Thirty-four million tons of cargo were shipped using the route last year. In the next few years, the cargo traffic on this global transport corridor will only grow, which requires prioritizing the construction of a modern icebreaker fleet, as well as upgrading Arctic ports and infrastructure,” Vladimir Putin explained.

It is expected that by 2030, the general capacity of the ports in the Arctic waters will double. While last year, this capacity stood at 123 million tons, it is expected to reach 252 million tons by the end of the decade, in part thanks to the construction of new terminals and the expansion of railway access.

“By 2027, we plan to substantially ramp up the capacity of the Murmansk port, from 56 million to 110 million tons per year,” the President added.