In Yakutia, another company received the status of a resident of the Arctic Zone of the Russian Federation. Under an agreement with the Far East and Arctic Development Corporation, KEN & Kompanion is planning to erect a cinder block mini-plant in the town of Srednekolymsk. The overall investment in the project will amount to 74 million rubles.

'According to preliminary calculations, the capacity of the mini-plant at the first launch will be 450 units per work shift. Each month the shop will be able to produce up to 11.7 thousand cinder blocks, which fully covers the needs of the district in the building material. The production of cinder blocks and the use of modern construction technologies will allow us to start building affordable and high-quality housing, as well as socially significant objects in permafrost,' — said Jeanna Konstantinova, the Director General of KEN & Kompanion Ltd.

Production of cinder blocks is a new direction for the KEN & Kompanion construction company, with more than 15 years of experience in the construction of residential and nonresidential buildings, structures of various types and purposes. The company has all the necessary facilities and sufficient raw material base to launch a new project, has licences for the development of quarries and extraction of sand and sand-gravel mixture. The launch of local production is expected to give a major boost to housing development in the Srednekolymsk district, which has so far been largely dominated by wooden buildings.

Significant state support and preferences under the AZRF regime will minimise the costs of the project to KEN & Kompanion Ltd. The greatest benefits to the resident are the tax incentives and subsidising a significant portion of insurance premiums, which will allow to purchase additional equipment in addition to providing more jobs.

To date, 12 agreements on investment activities in the Arctic zone have been signed in Yakutia. Investors have already provided more than 1 billion rubles. As a result, 110 jobs have been created. The total amount of announced investments is 3 billion rubles, with more than 700 new jobs. For more information on the benefits and preferences of the ASRF regime, as well as information on the mechanism for obtaining resident status, please visit the Arctic-Russia website.