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Coordination Council's Session for South Yakutia Project

On June 26th of 2013 a session of Coordination Council for the investment project Integrated Development of South Yakutia under the guidance of First Vice-Chairman of Sakha (Yakutia) Government Aleksey Struchkov was held in Moscow in the building of Permanent Delegation of the Republic of Sakha (Yakutia).

Participating in the session were representatives of federal and republican ministries and departments, development institutes, heads and representatives of the companies investing in the Project.

Director General of South Yakutia Corporation Mikhail Bruk delivered a report highlighting the top priorities, prospects and possible mechanisms of further delivery of the investment project Integrated Development of South Yakutia.

Information on the specific industrial facilities were presented by chief executives of the investor companies. They corroborated their interest in the project delivery under the government support in building the transport and energy infrastructure.

The members of the Coordination Council approved modifications of the key parameters in the Project passport, including those that concern the postponement of design on some objects.
Deputy Director of the Federal Agency for Management of Natural Resources (Rosnedra) Evgeny Kiselev informed those present that in this year Rosnedra planned an auction on Seligdarsky appatite deposit.

The proposal to restructure the construction stage of the Project and to outline the phases of its implementation was considered and approved.

The first phase will include construction on Inaglinsky Coal Complex (2012-2015) and Taezhny Iron Ore MPIW (2016-2019) with requisite railway and electric grid infrastructure. The cost of building the first-phase facilities will amount to 100.9bn rubles, including 15bn rubles of essential government support. Therefore the plan calls for attracting 6 rubles of private investments per 1 ruble of state investments.
The second phase implies construction of the remaining industrial and infrastructural facilities.

The main effort will be focused on implementation of the first phase of the Project as a pilot initiative in the Far East Federal District. With this purpose it is suggested that an interdepartmental workgroup be formed with the involvement of investors, federal executive authorities, Yakutia public officials, managers from South Yakutia Corporation, and representatives of the development institutes (Vnesheconombank, Far East and Baikal Region Development Foundation).

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