Representing the Murmansk Region, Tuloma Marine Terminal LLC has secured its resident status in the Arctic Capital TOR (priority development territory). Tuloma is the fourth entity to make the TOR its home, according to the regional government's press office.

'Tuloma Marine Terminal LLC is the fourth company to have obtained domicile in the Arctic Capital priority development territory, intending to build an advanced, highly competitive dry bulk terminal and operate it in the Seaport of Murmansk', reads the newsletter, quoted by TASS.

The terminal, equipped to process 4 mn metric tons annually with an upside of 6 mn metric tons, is slated to become operational in March 2023. As it goes forward, the project is expected to create 249 new jobs for the region. The aggregate investment in the project is expected to exceed RUB 12.5 bn.

'This is one of the TOR's anchor projects, focused on the Interfluve (Kola District of the Murmansk Region.—TASS note). The project looks promising and is timed right, there is no question about that. Mineral fertiliser output has been steadily on the increase in Russia. It is important to note that the mineral fertiliser producers are working on the target set by the president, which is to reroute their transhipment operations away from foreign ports, particularly the ports in the Baltic States, to ports in Russia', Deputy Governor of the Murmansk Region Olga Kuznetsova was quoted by TASS as saying.

The other current residents of the Arctic Capital TOR are Novatec-Murmansk LLC, "Udarnik" Terminal LLC, and Renaissance Arctic LLC. Total investment in the TOR exceeds RUB 95 bn.

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