First investors come to the Kangalassi Industrial Park

According to the Ministry for Development of Russian Far East, in the course of a visit of Yury Trutnev, the Presidential Plenipotentiary Envoy to the Far Eastern Federal District, to the Republic of Sakha, nine agreements have been executed with JSC Far East Development Corporation authorizing resident activities in the Kangalassi Industrial Park (a priority development area),

First investors come to the Kangalassi Industrial Park

According to the Ministry for Development of Russian Far East, in the course of a visit of Yury Trutnev, the Presidential Plenipotentiary Envoy to the Far Eastern Federal District, to the Republic of Sakha, nine agreements have been executed with JSC Far East Development Corporation authorizing resident activities in the Kangalassi Industrial Park (a priority development area).

Residents of the industrial park are expected to invest RUB 737 million in the region's economy.

The Kangalassi Industrial Park was created pursuant to an order issued by the Government of the Russian Federation on 21 August 2015. The initial area of the priority development area is 13 hectares to potentially expand to 85. RUB 200 million of budget funds have been allocated to create the priority development area's infrastructure. Private investors will invest more than RUB 1 billion to create production facilities.

The Kangalassi's area will initially accommodate Sakhaplastekh's facility to manufacture PET preforms and containers, EgoPlast's factory to make polyethilen water and gas pipes and Dalenergostroy-Vostok's plant to produce geonet, geofabrics and polystyrene foam.

It is also planned to create facilities for producing paints and varnishes, heating agents for heating systems as well as petroleum sorbents and biological preparations to clean soil and water from oil and petroleum products.

As at the beginning of February 2016, JSC Far East Development Corporation has received 17 orders from potential residents of the priority development area providing for a total amount of investments equal to RUB 2.4 billion.