Investment Portal of the Arctic Zone of the Russian Federation

A year-round transport hub on the west coast of the Kola Bay to be built by a resident of the Arctic Zone of the Russian Federation

A new resident of the Arctic Zone of the Russian Federation plans to create a modern storage infrastructure in Murmansk by the summer of 2025.

1 April 2022

Under an agreement with the Far East Development Corporation, KORD CO LTD will build a year-round fleet supply base. In the summer of 2025, a transportation hub that includes two metal hangars, a concrete pad, and an automobile driveway, will appear on the western shore of Kola Bay. These structures, with their area totalling 6,300 sq. metres, will primarily focus on logistics companies involved in maritime transportation. The volume of private investment in the project will exceed RUB 51.2 mn.

'Our investment project will be one of the measures aimed at the complex development of the Murmansk transport hub. It will significantly increase the volume of port cargo handling, mainly due to the provision of storage services,' said Mikhail Vorobyov, Director of KORD CO LTD.

The construction works are scheduled to begin in the summer of 2022.

According to FEDC, more than 380 investors with projects worth around RUB 375 bn have been granted the status of a resident of the Arctic zone of the Russian Federation. This will create additional 16.1 thousand jobs for the northerners.


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