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Murmansk Region’s authorities report 20% growth of fixed investments in 2018

One of the biggest projects is Novatek’s Kola Shipyard in Belokamenka

MURMANSK, May 31. /TASS/. Fixed investments in the Murmansk Region grew by 20% in 2018, the region’s Acting Governor Andrei Tchibis told the regional legislators on Thursday.

"Fixed investments in the region have grown by 1.2 times," he said.

The official stressed the growth is not big, adding the region had quit the group of leaders, who are attractive for investors. Presently, the region is on the list of medium-attractive regions.

In 2018, the local government entered 13 investment agreements and three special investment contracts on state support for investments. Ten investors received state support in the form of tax preferences, and five companies got the right to rent land without bidding.

One of the biggest projects is Novatek’s Kola Shipyard in Belokamenka. The shipyard will make unique offshore facilities: reinforced concrete gravity based structures (GBS) for LNG plants, drilling and development platforms for shelf projects in the Arctic’s western sector and large-capacity facilities which could provide for work of the Northern Sea Route.