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Investment Portal of the Arctic Zone of the Russian Federation
14.06.2024 // Eco-Gas, a new Arctic Zone of the Russian Federation (AZRF) resident, is set to construct a tourist base between Apatity and Kirovsk in the Murmansk Region. Under an agreement with the Far East Development Corporation (FEDC), the project will see investments exceeding RUB 10 mn, with a launch planned for 2026.
The AZRF resident intends to construct ten substantial houses fully equipped for guest accommodation, along with a bathhouse and an administrative building.
Vasily Eliseenko, CEO of Eco-Gas LLC, stated that the project was initiated in response to the Murmansk Region's growing need for additional accommodation facilities due to increasing tourist demand.
'Last year we welcomed 300,000 tourists, and this year the number has already reached 400,000. With insufficient accommodation for visitors, we decided to assist the region by constructing additional facilities,' noted the company's head. 'Our region is increasingly focusing on skiing. We host sports events, including both youth and adult Russian Alpine Skiing Cups; plans are underway to hold the national cross-country skiing championship, and the junior championship has been a long-standing event. Traditional tourism activities like mountain and taiga hiking also play a significant role.'
»The new tourist camp will accommodate ski resort guests from the neighbouring town of Kirovsk during winter and hikers heading to the Khibiny Mountains in summer.
'We plan to construct sports facilities for summer use, create a running track around the complex and install fitness equipment,' added Eliseenko.
»The site chosen for the new hospitality facility is where demolished emergency housing once housed Apatity's construction workers. The AZRF resident will leverage its convenient location and proximity to urban infrastructure to provide all necessary amenities for guests. It's just over a kilometre from Apatity's border to the tourist camp and about 10 km to Kirovsk. This proximity allows for essential utilities and ensures guests have easy access to the resort.
According to FEDC, currently, 775 AZRF residents are conducting investment activities in the Russian Arctic, with projects valued at RUB 872 bn and plans to create 26.9 thousand jobs. Businesses have already invested over RUB 148 bn in the Arctic economy, creating nearly 10,000 new jobs.
It's worth noting that Murmansk Region is among the leading Polar regions in terms of projects granted preferential status. Benefits include a 75% insurance premium subsidy for ten years, zero property and land tax and a 50% deduction on mineral extraction tax. Additionally, there's a preferential rate of 1% under the simplified taxation system (income) and 5% under the simplified system (income minus expenses). An AZRF resident is entitled to acquire state or municipal land without participating in tenders. Furthermore, state and environmental assessments of project documentation are conducted simultaneously for AZRF residents, positively impacting investment project timelines.