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Northern Sea Route development plan through 2035 to require over $34 bln

Russia’s government is expected to approve the plan for the development of the Northern Sea Route through 2035 by August 1, 2022

MOSCOW, July 14. /TASS/. The financing of the plan for the development of the Northern Sea Route (NSR) through 2035 may total around 2 trillion rubles ($34.3 bln). A respective draft has been considered at a meeting headed by Russian Deputy Prime Minister, Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev.

"The financing of the plan for the development of the Northern Sea Route through 2035 may total around 2 trillion rubles, with private investors expected to inject around 15.6 trillion rubles in the development of investment projects forming the cargo base of the Northern Sea Route by 2035, which will ensure an increase in gross product by 28.5 trillion rubles and tax revenues in the amount of 16.3 trillion rubles at all levels of the budget system of the Russian Federation," the press service of the Plenipotentiary Envoy’s office said in a statement on Thursday.

Russia’s government is expected to approve the plan for the development of the Northern Sea Route through 2035 by August 1, 2022.

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