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Eastern Economic Forum

Chinese company ready to invest $18 million in construction of IT park in Yakutia

The government of Russia’s Republic of Sakha (Yakutia) and China's Huaqing Housing Holding signed a framework agreement earlier on Thursday on creation of an IT-park in the republic

© ITAR-TASS/Valeriy Sharifulin

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Russia’s Yakutia, China’s Huaqing Housing Holding sign agreement to create IT-park

YAKUTSK, September 3. /TASS/. A Chinese company is ready to invest more than 1.2 billion rubles (approximately $18,000) in the construction of an IT park in Russia’s Sakha (Yakutia) Republic, director of the Yakutia technological cluster Anatoly Semyonov told TASS on Thursday.

"Within the framework of the Eastern Economic Forum in Vladivostok an agreement on the construction of an IT park in Yakutsk [the capital of the Sakha Republic] has been signed between the technological cluster and China’s Huaqing Housing Holding," he said.

This year the Chinese investors will order the park’s design, carry out an expertise and will begin construction next year due to be completed by 2018. The implementation of the project will involve only the finances of Huaqing Housing Holding, then Yakutia will have seven years to buy out the facility under a concession contract.

The IT park should be the first step in creating a high-tech park. The new building is expected to accommodate a co-working center, a fitness center and a children’s center of 3D modelling, design and computer programming.

The government of Russia’s Republic of Sakha (Yakutia) and China's Huaqing Housing Holding signed a framework agreement earlier on Thursday on creation of an IT-park in the republic. Negotiations are also underway on cooperation on a number of projects in the republic, including the construction of the Aldansky oil refinery, a number of projects in oil industry, construction sector, a cooperation project with Almazergienbank and a number of other enterprises of Yakutia, head of Huaqing Housing Holding Zhu Chunyu told TASS.

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