Russian govt expands borders of two Far East PDAs for projects worth 42.2 bln rubles

VLADIVOSTOK. March 1 (Interfax) - Russian Prime Minister Mikhail Mishustin has signed a decree expanding the boundaries of the "Mikhailovsky" (Primorye Territory) and "Buryatia" (Republic of Buryatia) priority development territories (PDAs) for the realization of new investment projects, the government press service said in a statement.

The Mikhailovsky PDA includes land plots totaling more than 822 hectares in the cities of Artyom and Arsenyev, as well as in the Yakovlevsky municipal district of the Primorye Territory.

"The decision will make it possible to begin the implementation [in the Mikhailovsky PDA] of two investment projects. One of them involves the creation in Artyom of the largest dry port in the Far East - a transport and logistics center (TLC) that will serve both export-import and domestic cargo flows," the statement said.

Earlier it was reported that the Artyom TLC project in Primorye is being implemented by the FinInvest Group of Companies. The investor plans to commission the first stage with a capacity of 500,000 TEU per year in late 2024, increasing its capacity by 2027.

A project to build the Arsenyev year-round family ski resort will also be implemented within the boundaries of the Mikhailovsky PDA. The commissioning date is 2024.

Total investment in the two projects will amount to more than 23.2 billion rubles.

The inclusion of new plots located in Ulan-Ude into the Buryatia PDA will provide an opportunity to build housing in the central part of the city under the Far Eastern District program. The total volume of investments will amount to almost 19 billion rubles. The project will be implemented through 2031.