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Investments in Murmansk Region's backbone cities estimated at $46 billion

Under the plan, more than 1 million square meters of housing will be built in the Murmansk agglomeration, where about 600,000 square meters have been contracted with developers

MURMANSK, July 2. /TASS/. Investments in development of 3 backbone agglomerations in the Murmansk Region will be more than 4 trillion rubles ($46 billion), where almost 3 trillion rubles ($34 billion) will come from private investors, Governor Andrey Chibis said.

"For the development of all settlements integrated into the Murmansk, Kirov-Apatity and Monchegorsk agglomerations, necessary investments are more than 4 trillion rubles, where more than 2.9 trillion rubles, or 72%, are private investments," the governor posted on Telegram. "As for the budget financing, we need about 550 billion rubles ($6.3 billion)."

Per every 1 ruble from the budget there are 6 rubles of private funds, he added. Investors' money will be directed to the region's economy, and will be used to develop production facilities.

For example, under the plan, more than 1 million square meters of housing will be built in the Murmansk agglomeration, where about 600,000 square meters have been contracted with developers. The Kirov-Apatity agglomeration will have a Federal Winter Sports Center and a modern scientific and technological cluster focusing on the Arctic safety and development. The Monchegorsk agglomeration needs an industrial technopark and a regional tourist resort.

"This is a minor part of what we will do under the master plans. We will also seek comprehensive solutions to help all agglomerations to develop even more actively. Including a comprehensive overhaul program for common property in apartment buildings with the federal budget funding, a program for affordable rental housing in the Arctic - similar to the program in the Far East, as well as increased funding for the healthcare system, and others," he wrote in conclusion.

In 2023, Russian President Vladimir Putin tasked to determine the list of settlements in the Arctic Region that will be considered the backbone ones. Development master plans should be developed for them, like they have been developed for the Far Eastern cities. The master plans' practical implementation is due to begin as early as in 2025.

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