17.06.2024 // RID Capital Arctic, a new AZRF resident, will soon begin constructing a facility to process ash and slag waste from Apatitskaya CHP. The investment in this project, as per an agreement with FEDC, will exceed RUB 1.7 bn, providing employment for 220 locals.
The project's declared capacity is approximately 150 thousand tons of ash and slag waste annually, producing iron-rich concentrate for metallurgy, dry construction mixes, reinforced concrete panels and sand.
'The idea to build a waste processing plant emerged from our team's experience in mineral enrichment. A blend of traditional separation and enrichment techniques has enabled us to process up to 95% of raw materials effectively. Apatity and Murmansk Region were chosen because they host the North-West Federal District's market, ensuring the project's convenience and economic viability,' explained Igor Pyasetsky, CEO of RID Capital LLC.
»According to the investor, modern technologies allow to enhance regional ecology while simultaneously producing sought-after products.
'Market capacity for construction materials in Murmansk Region is projected to reach around RUB 3–5 bn in 2024. This forecast is based on current construction rates, volumes of state and private investments in the region, and plans for major infrastructure projects,' highlighted the AZRF resident.
The new factory will completely process all waste from Apatitskaya CHP and eliminate ash dumps accumulated over 20 years, reintroducing the land into economic use. Russian-made equipment will be employed in production with prospects for adopting new technologies. In future, there may be production of microspheres, essential for many modern composite materials. The company collaborates with top domestic equipment manufacturers and both federal and local authorities.
RID Capital's head noted that AZRF resident status significantly aids project implementation.
'FEDC staff provide comprehensive support and assistance in securing permits and approvals as well as in land registration. We find benefits like insurance premium incentives and infrastructure subsidies extremely beneficial. Support from FEDC and AZRF mechanism preferences have significantly accelerated our preparation and launch processes,' emphasised Igor Pyasetsky.
»Murmansk Region stands out as a leader in attracting investments among all Arctic Zone regions of the Russian Federation. Introduced in 2020, the preferential regime has attracted 246 AZRF residents with investment projects totalling over RUB 191 bn.
'Any entrepreneur ready to invest in our country's northern economies can gain AZRF resident status, offering unique competitive advantages like tax incentives for business growth. Guaranteed benefits include zero property tax and a reduced income tax rate of 5% for the first five years, zero land tax for three years, a 75% subsidy on insurance premiums for new jobs over ten years, and priority in land registration. A comprehensive set of measures and full project support at all stages by FEDC helps investors shorten construction times and advance to operational phases,' stated Vladimir Gudkov, Director of the Department for Arctic Zone Investment Projects Support in FEDC.
»According to FEDC information, currently, 775 AZRF residents are active in investment operations within the Russian Arctic territories, with projects valued at RUB 872 bn creating 26.9 thousand jobs. Businesses have already invested over RUB 148 bn in the Arctic economy, creating nearly 10,000 new jobs.
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