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Investments in Northern Sea Route to reach $212.38 bln by 2035

Vladimir Panov, special representative of the Rosatom state nuclear corporation for Arctic development issues, emphasized that the tax revenues expected to be generated from Arctic projects by 2035 will come to around 20.951 trln rubles ($228.19 bln)

ST. PETERSBURG, December 8. /TASS/. Investments in projects related to the Northern Sea Route until 2035 will amount to around 19.5 trillion rubles ($212.38 bln), while taxes from Arctic projects will amount to about 21 trillion rubles ($228.73 bln), special representative of the Rosatom state corporation on Arctic development issues Vladimir Panov said on Friday.

"Private investments in Arctic projects related to the Northern Sea Route until 2035 will amount to 18.429 trillion rubles, federal budget investments - to 678 bln rubles, the Rosatom state corporation will invest 336 bln rubles," Panov said.

At the same time, he emphasized that the expected tax revenues for the same period from the activities of Arctic projects will amount to around 20.951 trillion rubles ($228.19 bln).

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