The Murmansk Region will allocate over 4 billion rubles to implement the Murmansk Transport Hub development project, Murmansk Region Governor Marina Kovtun said during the conference on Arctic development held as part of the St. Petersburg International Economic Forum, as quoted by Interfax.

"The construction of federal projects, the railway infrastructure, was initiated last year on schedule. The federal targeted program, Transport System Development, provided funding for the project. The contract was valued at 41.5 billion rubles [the construction of federal facilities. — IF]. So far, about 3 billion rubles worth of work has been completed. The plan for 2016 is 4.4 billion rubles," Kovtun said.

The Governor also noted that the government is fully complying with its commitments within the framework of the project. According to the strategy for transport development by 2030, the project entails the construction of container, oil-tanker and coal terminals and facilities to handle fertilizers, as well as access routes to the port.