8 Aug 2018 09:32

Rusal, VEB, GPB interested in SAR on Oktyabrsky Island - governor

KALININGRAD. Aug 8 (Interfax) - A number of Russian companies and banks are showing interest in the project to create a Special Administrative Region (SAR) on Oktyabrsky Island in Kaliningrad, Kaliningrad Region Governor Anton Alikhanov told reporters.

"We're already seeing interest in the SAR. This is UC Rusal , [state bank] VEB and Gazprombank (GPB) . Two meetings on this law are scheduled in August, and then there will be more. The interested parties are not just from among companies that were included in the sanctions list," Alikhanov said.

Alikhanov said he has not yet been in contact with representatives of Rusal, but such a meeting is scheduled for August.

"Banks' interest is related to the creation of certain companies [by them] that could work in various sectors of the economy here," he said.

There are still certain issues that need to be resolved at various levels regarding the implementation of the SAR law, Alikhanov said.

President Vladimir Putin signed a package of bills on August 6 on the creation of SAR on Russky Island in Primorye and Oktyabrsky Island in Kaliningrad Region. The main goal of creating this new mechanism is 'deoffshorization' of foreign holding companies controlled by Russian citizens that own assets in Russia, including as a countermeasure against sanctions.