The Russian holding company, CJSC S7 Group (also the owner of the S7 airline), plans to build a ship repair plant in Murmansk, as reported by Delovoy Peterburg.

The agreement for this was signed on Monday, 2 October. The new enterprise will be established on the site of the former Murmansk Ship Repair Plant of the Marine Fleet, which ceased operations in 2019.

'We have been striving for a long time to attract an investor. Finally, this issue has been resolved and the shipyard will be given a second life,' wrote Andrey Chibis, Governor of the Murmansk Region, on his Telegram channel.

The New Murmansk cultural and business centre project, previously planned for this area, will be moved to another location, as also stated by the governor of Murmansk.

S7 will invest in this project as well and aims to construct the first New Murmansk facility—an Arctic Aquathermal Physical Fitness and Recreation Complex with an aqua park—by 2024. The aquatic centre will be located in the vicinity of Podgornaya Street. The New Murmansk project concept was unveiled at the St. Petersburg International Economic Forum (SPIEF) in 2021.