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Murmansk Region’s new business residents plan to build camping, to mine ‘green’ metals

The new residents will offer 400 jobs, and the total investments are more than three billion rubles, the region’s Governor Andrei Chibis said

MURMANSK, December 15. /TASS/. Another two companies received the status of the Russian Arctic Zone’s residents in the Murmansk Region. They plan to invest more than 3 billion rubles ($41 million) and to offer 400 jobs in the projects to mine ‘green’ metals and to build a camping, the region’s Governor Andrei Chibis said on Tuesday.

"Another two residents have joined the Russian Arctic Zone," the governor wrote on Telegram. "A project to explore and mine "green" metals: the platinum-group metals and the "battery" metals - nickel, copper and cobalt. The construction of the Northern Lights Camping. The new residents will offer 400 jobs, and the total investments are more than three billion rubles."

Presently, the Murmansk region has 98 residents of the Russian Arctic Zone, the governor added.

The Murmansk region offers two preferential tax regimes. One of them is the Capital of Arctic advance-development territory, which works in the region’s city Murmansk and the Kola District. The territory’s nine residents have registered investments of almost 100 billion rubles ($1.4 billion). The second is the Russian Federation’s Arctic Zone. Projects in the Murmansk region are in tourism, agriculture, mining, fishing, metallurgy, transport, logistics and services. The residential status offers several preferences, including in taxes. Any business, registered in the Arctic and planning a new project with investments of at least 1 million rubles ($14,000), may obtain the residential status.