Karelia: RUR 20 mln to be invested in regional economy

In 2011 Karelia’s Ministry of Economic Development plans to attract about 20 bln rubles of state and private investments to the regional economy, what corresponds to the rates of 2010. 

Such rates are stipulated by the socio-economic development concept project of the republic for 2011-2015.  

“According to the results of 2010 the aggregate investments will make up about 20 bln roubles, of which 5 mln will come from a federal budget, and the rest - from private companies. In 2011 the sum will not be less than this one. 

Among the largest investment projects, implementation of which will start in 2011, are the following: construction of a chipboard plant in Petrozavodsk, beginning of Segezha Pulp-and-paper mill modernization, construction of a new terminal in Petrozavodsk airport, the White Sea – Baltic Sea Canal infrastructure modification, and creation of several wood-processing enterprises in Karelia’s districts. 

The Ministry also considers the possibility to implement a project of structural elements assembly for foreign timber trucks on the basis of Onega tractor plant.  

The investment projects will be examined by a special committee in the Karelia’s Ministry of Economic Development.