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Russia, Japan to discuss 18 Far East projects in December

November 18, 2016, 8:32 UTC+3 TOKYO

Russia’s ministry expects to reach detailed decisions on several projects by December, when President Vladimir Putin is due to visit Japan

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Coal production in Yakutia

Coal production in Yakutia

© Yuri Smityuk/TASS

TOKYO, November 18. /TASS/. Russia’s Ministry on Development of the Far East expects by December, when President Vladimir Putin is due to visit Japan, to reach detailed decisions on several projects, Minister Alexander Galushka told TASS after the 12th meeting of the Russia-Japan intergovernmental commission on trade and economic cooperation.

"Speaking about the Far East, we have 18 items to work on, we are moving forward," he said. "The background, established by our leaders, allows us moving forward much quicker."

"On some of the projects, the working dynamics is very good," he continued. "We have agreed to prepare everything by December: in the cases, where actual decisions are in place already - either a governmental order, or the government has received a document based on a decision, or if a company has announced beginning of investments."

Khabarovsk airport reconstruction project

Among the projects, the minister named participation of a Japanese investor in reconstruction of the airport in Khabarovsk.

"Among the realistic events, I can highlight that the Russian government has adopted rules for long-terms tariffs for airports," he said, explaining that decision "has a practical value - which is the potential interests from Japanese counterparts in investing in reconstruction of the airport in Khabarovsk."

"The investor’s position is reasonable - without a long-term tariff it is not possible to speak about predictable monetary economy of the project, or to borrow money," the minister said adding "perhaps, one of the first projects to use this order is the Khabarovsk airport."

He continued, saying now the parties are negotiating actively the tariff amount, which, on one hand, "will make those investments reasonable, rather profitable," and, on the other hand, - will allow "making a reasonable level of the tariff, which would not lower the number of passengers served."

"Southern Yakutia" and greenhouses

Among other projects, the minister pointed to the discussion between Marubeni and Kolmar Companies investments in Yakutia’s coal production and in port facilities in Khabarovsk.

"The Russian government supports this project, and, on our side, we have decided to establish the Southern Yakutia territory of advance development, so that this possible joint Russian-Japanese project could have all benefits and preferences to stimulate investments."

Another important direction in cooperation is agriculture.

"JGC Corporation has confirmed the intentions to invest in the second stage of a greenhouse complex in the Khabarovsk territory of advance development," the minister said. "The company plans to invest in it $15 million and to begin construction in April already.".

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