Investment Portal of the Arctic Zone of the Russian Federation

First in the Nenets Autonomous Area

AZRF Resident Opens Three-star Hotel Complex in Naryan-Mar

18.07.2022 // A resident of the Russian Arctic Zone opened the Pechora three-star hotel and business complex in Naryan-Mar. This is the first project completed by an AZRF resident in the Nenets Autonomous Area.

The project implemented by individual entrepreneur Anatoliy Kurlenko cost over RUB 186.5 million. About RUB 127 million have already been invested in the project. The rest of the investment will go into the renovation of the facade, the adjacent territory with a parking lot and the building entrance. The investor overhauled a five-storey building constructed 30 years ago. The rooms were renovated, and so were auxiliary and rental areas where local companies can now open their offices.

At the time the work started, the hotel rooms had gone into disrepair, with only 15 out of 49 still in use. Utilities also required a radical upgrade. Within a year, the entire building was overhauled. Furniture and plumbing were replaced in rooms of various categories and halls, and new elevators were installed.

The agreement with the Far East and Arctic Development Corporation for the reimbursement of insurance premiums helped ease the financial burden on the investors. Due to the project implementor's Russian Arctic Zone resident status, the corporation paid RUB 129,000 worth of insurance premiums for new employees over three months from the date of status validity.