MOSCOW, Jun 3, 2020, Pan Pacific Agency. Russian govt to subsidise the cost of building infrastructure for the Severnaya Zvezda (‘North Star’ word-for-word from Russian) coal complex aimed at exporting coal to the Asia-Pacific region, Roman Trotsenko, the company’s owner, said during a Zoom-conference organized by the Russian Union of Industrialists and Entrepreneurs (RSPP) and the Interfax agency.
His company counts on support measures as one of the first residents of the priority development area “Capital of the Arctic”, Mr. Trotsenko said.
“Indeed, we have submitted an application. It’s a big project. Its elements are the construction of the new Yenisei seaport, a power station, a coal enrichment factory, and a shift camp,” Roman Trotsenko said.
The overseas exports, primarily the export of coking coal and coke to India and China, is the project’s goal, he noted. The project is as relevant as it was in the times before the Covid-19 pandemic, as Asia develops and ramps up consumption of coking coal, Roman Trotsenko accented. “We believe that the project should be implemented at an accelerated pace,” he said.
In 2019, Severnaya Zvezda announced its plans for investing 35 billion rubles ($510 million) to the coal complex construction on the Taimyr Peninsula. A planned coal mine capacity is near 10 million tons per year, the TASS agency reported earlier. The priority development area (PDA) “Capital of the Arctic” was founded by the Russian govt’s decree in May 2020. As stated, the first residents of the PDA will be four companies. Projects that receive the status of a resident are entitled to tax and administrative benefits with infrastructure’s subsidies from the state budget.
Russian version of this article is available here.