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Far East’s economic projects boost Northern Sea Route’s development, official says

Presidential Envoy to the Far Eastern Federal District Yuri Trutnev said that 'any development requires a base of economic efficiency'

MOSCOW, October 4. /TASS/. Implementation of big investment projects in the Far East will boost development of the Northern Sea Route and the Russian Arctic zone, Deputy Prime Minister, Presidential Envoy to the Far Eastern Federal District Yuri Trutnev told a governmental meeting on priority tasks in development of the Russian Arctic zone.

"Any development requires a base of economic efficiency," he said. "In our case, the situation has changed. Implementation of a few projects - an LNG reloading hub on Kamchatka, development of the Baimskaya ore zone - now dictates new conditions for development of the Northern Sea Route, makes it necessary to keep it busy year-round, and, on the other hand, offers absolutely different conditions for the Arctic zone’s development."

An investment agreement on the Baimskaya ore zone was inked at the fourth Eastern Economic Forum. The project includes construction of a mining plant and all necessary infrastructures. It is on the list of key projects in the Far Eastern and Chukotka Regions.

Russia’s President Vladimir Putin in an address to the Federal Assembly said by 2025 the Northern Sea Route’s annual capacity should grow by ten times - to 80 million tonnes of cargo.