Kamchatka special zone extended for more investment projects

As of January 21, 2021, the boundaries of the KAMCHATKA advanced development territory were extended to embrace more investment projects in the region. This resolution was signed by Prime Minister Mikhail Mishustin, reports Megafishnet.com.

The decision will encourage the construction of new fish processing facilities on the west coast of the peninsula in a framework of various benefits and preferences.

According to the Kamchatka government, the investor plans to implement a project for the construction and modernization of high-capacity plants for processing pollock and other fish species on the territory of Sobolevsky and Ust-Bolsheretsky districts. The estimated input will exceed 528 million rubles with more than 346 million already injected into the plan.

The project is expected to create 800 new jobs.

More specifically, this year the investor-Vityaz-Avto LLC-plans to modernize plants in the village of Ustyevoye and on the Kol River in the Sobolevsky district.

At the plant in Ust-Bolsheretsky district the company will refurbish the existing container type processing unit with a capacity of 50 tons of raw fish per day. Meanwhile the plant in the Ozernovskiy settlement will see reconstruction of cold store’s building and refit of freezing facilities, etc.

The Kamchatka advanced development territory (Russian acronym TOR) was created in 2015. Like other TORS, it is designed to stimulate the development of most important sectors of the economy and attract new investors to the region.

Residents of the territories of advanced development have access to a wide range of benefits and preferences, including reduced taxes, free customs zone procedures, and a simplified routine for the employment of foreign citizens. The TOR’s management company will also provide support to investors at all stages of project implementation.

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