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Three crushed stone quarries will open in Byelomorsk region

Head of Karelia Sergey Katanandov has carried on negotiations with representatives of the Swedish investment fund Varangian Resource.

As a result, is was decided that the Swedish fund will invest $10-12 million in development of one granite and two gabbro-diabase quarries. Investments will go on purchase of modern equipment, construction of roads, expansion of network of access roads, and creation of conditions for workers of enterprises. All the three quarries will be located in the radius of 6 km from each other.

Planned capacity working quarries is about 4 million of commodity crushed stone a year. Swedish investor considers that the first crushed stone from Byelomorsk region will be sent on the building market of Moscow and St.Petersburg by autumn of 2007.

Official statistics shows, that about 1000 people in the reion are unable to find work for themselves. Opening of three quarries near the settlement of Sosnowiec guarantees creation of 300 additional workplaces, and the enterprise will become a new tax bearer.

In end of the meeting Sergey Katanandov ordered the Governmental to control creation of new manufactures in Byelomorsk region, and also to render all necessary assistance to the investment program presented by the Swedish fund.

Alexander Smirnov
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Created: March 7, 2007. Last updated: March 7, 2007.
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