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Komi reports 31 applicants for Arctic zone residential status

Total investments are planned at 5.7 billion rubles, the regional authorities said

TASS, April 5. More than 30 businesses wish to receive the status of the Russian Arctic Zone’s resident in the Komi Region. Their investments are estimated at 5.7 billion rubles ($75 million), the regional authorities said.

"The Komi Region has registered 31 applicants for the status of the Arctic Zone’s resident, and their total investments are planned at 5.7 billion rubles," the government’s press service said.

The new projects will offer 810 jobs. Four companies have inked agreements.

The Russian Arctic Zone in the Komi Region includes Vorkuta, Inta, Usinsk and the Ust-Tsilemsky District. According to the national strategy for the development of the Arctic, which was adopted in 2020, the main directions for Komi are diversification of the economy and complex social and economic development of mono-industrial cities Vorkuta and Inta; development of the coal-mining mineral resource centers in the Pechora coal basin for deep processing of coal and coal chemistry; and development of oil and gas mineral resource centers in the Timano-Pechorskaya oil and gas province, including creation of new facilities to process oil and gas.