Russia planning big investments into Far East ports

The Russian government has approved plans to invest in the socio-economic development of five cities in the country’s Far East.

The government decree, issued on 24 July, creates a long-term plan for the areas around Yuzhno-Sakhalinsk, Ulan-Ude, Severobaikalsk, Chita, and Tynda. Included in the decree is funding for a number of infrastructure projects – including big funding for the renovation of seaport facilities.

According to Fishnews, the decree contains funding for facilities in the Korsakov seaport. In total, more than RUB 32.6 billion (USD 341 million, EUR 310 million) in federal funding will be invested in new construction and reconstruction of infrastructure in the port.  

Of that total, more than RUB 7.1 billion (USD 74 million, EUR 67 million) will be invested in renovating the National Fishery Resource facilities, while RUB 25.5 billion (USD 267 million, EUR 242 million) will be devoted to renovating the Rosmorport facilities – which service cargo and cruise ships.

Sakhalin Regino Governor Valery Limarenko told Fishnews the development is important to the region, and that federal support will be key.

In addition to direct investment in the ports, the government is also planning to ...

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