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Aurora Logistics Support Base construction to be completed in 2024

The Murmansk Region leads in the number of residents of the Russian Federation Arctic Zone preferential tax regime

MURMANSK, January 10. /TASS/. The construction of Aurora Logistics a support base for offshore projects in the Kola Bay in the Murmansk Region will be completed in 2024, the region's Ministry of the Arctic and Economy Development told TASS.

"We plan that in 2024 the construction of the Aurora Logistics offshore project support base will be completed," the ministry said. "Investments in the project are estimated at 2 billion rubles ($22 million), and the support base's annual capacity will be 1 million tons of cargo."

The new infrastructure facility will favor the development of the Kola Bay's western shore, and will ensure smooth supplies for hydrocarbon exploration and production projects on the Arctic shelf. It will also build up the potential for oilfield services and related industries in the Murmansk Region. The new project will create more than 90 jobs. Aurora Logistics is a resident of the Russian Federation's Arctic Zone.

The Murmansk Region leads in the number of residents of the Russian Federation Arctic Zone preferential tax regime. As many as 220 businesses have been registered there, and seven projects have become residents of the Capital of Arctic advance-development territory. Residents of both regimes have invested more than 200 billion rubles ($2.2 billion) and have created more than 4,500 jobs.

The business residents implement projects in tourism, agriculture, mining, fishing, metallurgy, transport and logistics, and in services. The residential status offers a number of incentives, including tax preferences. Currently, a company registered in the Arctic and planning to implement a new investment project worth at least 1 million rubles ($11,200) may become a business resident.

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