Investment in new Arkhangelsk port estimated at RUB 60–65 bln
Total investment in a deep-water seaport project in Arkhangelsk may amount to approximately RUB 60–65 billion, according to preliminary estimates, Arkhangelsk Region Governor Igor Orlov told the TASS news agency during an interview in the run-up to the International Arctic Forum.
“A total of three phases are planned with a tentative total cost of RUB 60–65 billion”, Orlov said, noting that investment in the first phase should be approximately RUB 40 billion.
“Overall, the port project that we are presenting will increase existing capacity by two to three times”, he added.
It was previously reported that the deep-water area of the Arkhangelsk seaport was being considered as a potential support point for the infrastructure of the Northern Sea Route. The port offers direct access to the ocean via the White Sea, which allows for freedom of navigation regardless of the political situation. The construction project for the Arkhangelsk deep-water port has been included in the Transport Strategy of the Russian Federation for the Period until 2030. The developers believe that the new port will create a more attractive alternative route for export and import cargo flows headed to Europe, North America, and Asia-Pacific region countries (primarily China) and will also provide a new point of independent access for large-capacity vessels to reach the world ocean in these directions.