Russia to invest in the Arctic and will provide government aid for salmon brood facility

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Investment planned in Murmansk region.

In a press release on Monday, Russia Prime Minister Mikhail Misjustin has signed a decree related to the plans for six large state-backed projects in the Russian Arctic. One of these projects is a salmon and trout breeding facility in the Murmansk region.

According to the government, the state subsidy for each of the projects will be up to 20 per-cent. One of the prerequisites is that the project in question costs at least 300 million rubles, which is around EUR 3.2 million.

The Government believes the projects will increase investment in the Arctic, as well as having a positive effect on the socio-economic situation in the area.

Other projects that receive support are: a mining and metallurgical plant in the Murmansk region, the coal field at Syradasai will be developed, a company will be established for the extraction and processing of lead ore, a deepwater terminal for reloading mineral fertilisers at the port of Murmansk will be built, and the infrastructure at Vitino port will be repaired.