The Port of Vitino, which is designed for oil product transloading, will be officially put into service before the end of 2023. The company, Arctic Transshipment, a priority development area (PDA) resident, also plans to complete a new offshore LNG transshipment facility in Ura Bay, Murmansk Region, this year.

There are 214 residents in the Arctic Capital (Stolitsa Arktiki) PDA, in the Arctic Zone of the Russian Federation (AZRF). Murmansk Region Governor Andrei Chibis mentioned this figure at a meeting on current issues.

“As of the first half of 2023, residents of the AZRF PDA have invested a total of 190 billion rubles in the implementation of these projects, which is half the planned investment. They have created almost 5,000 jobs. Twenty-four projects are fully operational. The total amount of investment in the region’s economy already exceeds 384 billion rubles. Over 11,500 jobs will be created eventually. This year, the plan includes completing the Atlantic Salmon Slaughter and Processing plant with a capacity of up to 165 tonnes of finished product per day. An offshore LNG transshipment facility will be opened in Ura Bay. We are also planning to establish a multifunction roadside service station in the village of Lovozero. This is a request from the local residents, “said Governor Andrei Chibis.

Murmansk Region Deputy Governor Olga Kuznetsova spoke in more detail about the implementation of projects by AZRF PDA residents and the preferential programs.

“The main goal of PDAs and the AZRF preferential projects is to facilitate the implementation of projects with government support provided as tax benefits and preferences. Thus, the federal budget compensates companies for 75 percent of their insurance expenses on employees that received newly created jobs in a particular project. As of June 2023, 22 PDA residents used this benefit. Total compensation during the entire implementation of these projects is about 205 million rubles,” Olga Kuznetsova emphasised.

PDA related projects are mostly oriented toward the domestic market. Over half of AZRF PDA residents are carrying out projects to design, build and purchase equipment.