Investment Portal of the Arctic Zone of the Russian Federation

Arkhangelsk Algae Plant's Upgrade to Cost RUB 500 Million

Plans were made to invest half a billion rubles to expand and update the Arkhangelsk algae plant's production facilities by 2026.

20 October 2022

The plant needs money for gasification, technological re-equipment, as well as the repairs of premises and utility networks. The investment is bound to ensure future growth in manufacturing volume and boost income by 3.5 times. Aleksandr Stotskiy, Director General of the Arctic Development Project Office, reports this, citing the media office of the Arkhangelsk Region Governor.

The plant harvests and processes White Sea algae to produce iodine, skin care products, dietary supplements, and food. It is anticipated that the yearly production of sodium alginate would more than triple, and the output of Algipor-A used to treat wounds would increase by eight times.

The plant is seeking funding to carry out the investment project with the assistance of the Russian Federation's Ministry of Eastern Development. The following options are being considered: assistance in obtaining concessional loans, infrastructural support, and benefits as part of a new advanced economic zone in Pomorye.


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