Acting Prime Minister of the Russian Federation Andrey Belousov has signed a decree establishing the Arctic Capital, the first advanced development territory in the Arctic territory in Murmansk Oblast.
Arctic Capital will be located in Murmansk and the Kola District of Murmansk Oblast. It will include four anchor investors, including NOVATEK-Murmansk with its investment project of Large-Scale Offshore Shipbuilding Center, Lavna Commercial Sea Port with its investment project Construction of a new coal terminal in Lavna Commercial Sea Port on the western coast of the Kola Bay, Tuloma Sea Terminal with an investment project of building a mineral fertilizers and apatite concentrate terminal in the sea port of Murmansk Oblast Development Corporation with an investment project of building an international cultural and business center for developing the geopolitical and cultural potential of the region.
According to the Ministry for the Development of the Far East and the Arctic, currently the Ministry and the Government Murmansk Oblast are working on including two more investment projects worth more than 16 bn rubles in total that will create 465 new jobs. These are Port Liinahamari, a project of a resort on the Kola Peninsula with a cruise ship terminal, and a project of a reefer terminal for fishing companies in the settlement of Mezhdurechye.a