North Caucasus expects approval of 10 major projects worth 300 bln rubles
NEVINNOMYSSK. July 22 (Interfax) - About ten major investment projects in the North Caucasus Federal District worth more than 300 billion rubles will be approved this year, the presidential envoy to the federal district, Alexander Khloponin said.
"About 15 projects are planned in the North Caucasus in the near future through the North Caucasus Development Corporation (NCDC) alone. There will soon be a meeting of the supervisory board of Vnesheconombank (VEB) at which ten major projects worth 300 billion rubles will be approved, with NCDC's share amounting to 10 billion rubles," Khloponin told reporters on Saturday at the opening of the Alumar plant.
He said the development of North Caucasus resorts remains one of the priority projects.
"Despite certain problems that we have faced in past years, I think that now a professional team has arrived that is well on the way to implementing the project on time. The objectives that we set for ourselves will be met," Khloponin said.
He said the main social and economic aspects of opening the new production facilities are the creation of high-tech jobs that pay a decent wage.
Alumar is a Russian-Greek joint venture to produce aluminum slugs. It will initially produce 6,000 tonnes of slugs per year, of which 3,500 tonnes will be used by the Arnest group and the remainder will be sold on the Russian market.
Overall investment in creating the aerosol cluster totals 470 million rubles, including 196 million rubles invested by NCDC. The remainder is being financed by Arnest and other sources.
NCDC was founded in November 2010 to support government policy for the development of the North Caucasus, attract investment to the region and create new jobs. NCDC is operating under the first phase of a strategy for the social and economic development of the North Caucasus Federal District to 2025.