Arktikugol to diversify operations by developing tourism — minister

Business & Economy May 15, 11:07

The Arktikugol State Trust Company was founded in 1931

MOSCOW, May 15. /TASS/. Arktikugol Trust Company's six-year development plan includes diversification of operations on the Spitsbergen Archipelago by offering tourist routes, ship maintenance and the creation of a research base, Minister for Development of the Far East and Arctic Alexey Chekunkov said.

"Over the next six years, by the 100th anniversary of Russia's presence on Spitsbergen, the trust company will implement a development program, which provides for operations diversification through tourism, ship maintenance and the creation of a research base," he said at the State Duma's meeting on the Far East and the Arctic.

Russia's operations on Spitsbergen continue for more than 90 years. The Arktikugol State Trust Company was founded in 1931. It produces 120,000 tons of coal per year. The company owns an area of 251 square kilometers.

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