Murmansk signed deal on economic port zone


The regional government of Murmansk on Wednesday signed an agreement on the establishment of a special economic zone in the Port of Murmansk. Several companies stand ready to place significant investments in the zone.


The tax and customs benefits, as well as the reduced administrative barriers, which follow the zone establishment will give a boost to the development of the Murmansk Transport Hub and facilitate base-establishments as part of the Shtokman project, Governor Dmitry Dmitriyenko says in a press release.

The governor adds that the creation of a high-tech and internationally-oriented transport hub in Murmansk has the potential to change the whole system of logistics in the Russian North.

The port zone covers a 30,5 square kilometer area located on the territory of Murmansk City and the Kola Rayon, the federal Ministry of Economic Development informs. At least four companies have expressed their readiness to invest a total of more than 150 billion RUB in the area. Among them is the Sintez Petroluem, which plans a new oil terminal in the area. In addition, a coal terminal is planned built and fish storage and processing facilities reconstructed.

The number of new jobs created as part of the projects is believed to exceed 1500. The zone will stretch over both sides of the Kola Bay.

As previously reported, the government of Murmansk in early October agreed with the federal Ministry of Economic Development about the establishment of the zone. Yesterday, Murmansk Governor Dmitry Dmitriyenko and regional Minister of Economic Development were in Moscow to formalize the deal. From the federal side, the agreement was signed by Deputy Minister Savelev.

Read also: Moscow approved economic zone in Murmansk

Regional authorities in Murmansk have long worked for the establishment of the economic zone, believed to be of major importance for the development of upcoming industrial projects in the region. The status as economic zone includes favourable tax and customs conditions and less red tape.

The development of the Murmansk port is headed by the Murmansk Transport Hub administration, which includes  both the federal Ministry of Transport, the Russian Railways, the Murmansk regional administration and others.