Investment Portal of the Arctic Zone of the Russian Federation
RU

ASEZ 'Stolitsa Arktiki' (ASEZ 'The Capital of the Arctic') has been expanded

Expanding the ASEZ boundaries will facilitate the launching of new investment projects and continuing existing entrepreneurial initiatives.

8 May 2024

The Russian Government has expanded the advanced special economic zones' boundaries in the Russian Far East and Arctic. Following these decisions, the construction of the Western Transportation and Logistics Hub is planned in new areas within the Kola district of the Murmansk Region. This is what the press service of the Murmansk regional government tells us.

'Cargo will be transferred between ice-class container ships navigating the North Sea Route and non-ice-class vessels. The transportation and logistics hub will include a terminal and two deep-water berths. Investments exceeding RUB 44.5 bn are estimated for this project, which will create over 700 jobs,' stated Murmansk Governor Andrey Chibis.

WTLH is a marine container terminal intended for the transit handling of containers shipped by ice-class container vessels as part of the Euro-Asian Container Transit project using a sea-to-sea transfer system. It has been incorporated into the Development Plan for the North Sea Route up to 2035. 

ASEZ is a strategic tool for regional development aimed at boosting key economic sectors and attracting new investors. Resident companies benefit from a broad array of incentives and preferences, including free customs zone procedures.

Image attribution: Shutterstock

News

See all

Tourism

Read more