VLADIVOSTOK, September 2. /TASS/. A gold extraction plant with the annual capacity of 600,000 tons of ore will be built at the Delankir deposit in Yakutia. An agreement on the project was signed on sidelines of the Eastern Economic Forum (EEF) by the Corporation for the Development of the Far East and the Arctic, Yakutia's government, and the Delankir Company (part of the Golden Asset Group of Companies), a TASS correspondent reported.

The document was inked by Kirill Kamenev, the Corporation's Deputy Director General for Investment Promotion, Andrey Kolesnikov, the Golden Asset Group of Companies' CEO, and Kirill Bychkov, head of Yakutia's government.

"The Golden Asset Company's project to develop Delankirskaya Square is a new modern gold mining and processing facility in Yakutia," the Corporation's representative said at the agreement signing ceremony. "The factory construction provides for 24.3 billion rubles ($280 million) in investments and will create 500 new jobs. For the Oymyakon and the Momsky Districts, the project would mean taxes, roads, and energy supplies that change people's lives. The Corporation, for its part, is ready to provide a full range of support measures for the successful implementation of this project, including comprehensive project support and assistance in cooperation with federal and regional authorities."

In addition to the factory, the project provides for the construction of a mine and facilities for auxiliary and supporting infrastructures, including warehouses, office buildings, and sewage treatment plants. The project is currently at the pre-design stage. The Corporation will support the investor in choosing a land plot and in work on infrastructure support issues.

"The work on a modern mining and processing enterprise is an important stage in the Golden Asset Group of Companies' development," the company's CEO said. "The project will ensure efficient mining and deep processing of ore; it will create new jobs and contribute to the region's development. With the support from the Corporation and Yakutia's government, we expect to implement this ambitious project in due time."

According to head of Yakutia's government, the project's implementation will contribute to the social and economic development of Yakutia's north-east. "The gold extraction plant's construction includes offering new jobs, as well as the construction of roads, power lines and other infrastructures," he said. "This is a significant contribution to the development of the Oymyakon and the Momsky Districts."

About the forum

The Eastern Economic Forum is running in Vladivostok from September 1 to 4 under the theme "The Far East: Development for the Benefit of People." The event's organizer is the Roscongress Foundation, with TASS as its general information partner.