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"Karelia: New Prospects for Investments"

Karelia: New Prospects for Investments is the title of press conference Sergey Katanandov held in St.-Petersburg on April 28 in the Northwest branch of Interfax news agency.

Head of Karelia in Interfax

Head of Karelia in Interfax

Capital editions and TV-channels are traditionally interested in events in Karelia, therefore, Head of the Republic of Sergey Katanandov annually invite leading Russian news agencies to his press conferences. On April 28 journalists of the leading mass-media working in St.-Petersburg came to Interfax to address their questions to the Head of Karelia.

Journalists at the press conference in Interfax

Journalists at the press conference in Interfax

The stream of investments in the republic grows from year to yeat, thus, both the subject opf the press conference, and questions of journalists concerned investment projects implemented in Karelia.

Sergey Katanandov has told, that as a result of the investment policy, followed by the Government of Karelia in 2007, 18,6 billion roubles of investments into a fixed capital was involved, that by almost 500 million roubles exceeds the level of the last year. Karelia has achieved the 34 place among the Russian regions on the volume of investments per capita. It became possible to reduce volume of export of the raw saw-timber by 25%. During the year it has been completed more than 20 large investment projects, and created over 2 thousand new workplaces.

In 2007 essential increase in volumes of investments into a fixed capital was observed in construction (3.5-fold), manufacturing activity (1.6-fold), agriculture and forestry (1.5-fold), production and distribution of electric power (1.4-fold), trade (1.4-fold).

Key investment projects in Karelia in 2007 were the following: reconstruction of Kondopoga, Inc., modernization of production of Karelsky Okatysh, Inc., construction of Swedwood Karelia woodworking enterprise in Kostomuksha by IKEA for processing plank pine timber and producton of glued furniture boards, revival of one of the oldest wood-processing enterprises of Karelia - Solomensky timber mill in Petrozavodsk. Also in the capital of the republic in 2007 there opened a number of large shopping centers and technical commissioning of the new 14-storeyed 4-star Onego Palace hotel was held.

Press conference in Interfax news agency

Press conference in Interfax news agency

At the same time, dynamically developing economy of the republic sharply needs increase in volumes of investments. Being in St.-Petersburg, Sergey Katanandov has called investors to continue cooperating with Karelia. This year it is planned to involve 20,1 billion investments into the fixed capital. To achieve this purpose address work with potential investors will be accelerated, therefore carrying out of large press conferences in Moscow and St.-Petersburg is a good opportunity to announce new projects and involve leading companies in their realization.

One of the largest investment projects, preparation for which realization will be conducted in the nearest years in Karelia, is a so-called Pudozh Megaproject which assumes simultaneous complex development of several ore deposits in Pudozh region of the republic. The project provides construction of three ore-dressing and processing enterprises, metallurgy enterprise and metallurgical works on the basis of Pudozh, Aganozersky and Shalozersky ore deposits. Also the project supposes construction of railway in Pudozh region and construction of a high-voltage transmission line. Total amount of investments into the project implementation is estimated to make 100-120 billion roubles.

Journalists in St.-Petersburg werte interested to learn details of offered investment projects along with many other issues related to present of Karelia: how to provide new enterprises with the qualified experts, what prospects of the White Sea-Baltic Channel development celebrating its 75th anniversary are, who in the republic will become a human rights commissioner, how to coordinate development of industry with preservation of unique nature of Ladoga coast, - Head of Karelia gave irrefragable answers to these and other questions of journalists.

Ivan Stepanov
Press secretary of the Head of the Republic of Karelia

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Created: April 29, 2008. Last updated: April 29, 2008.
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