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    Investors to Allocate $886Mln for Projects on Russia's Far East - Minister

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    St. Petersburg International Economic Forum 2017 (183)
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    Russia's government has approved the conception of Russky Island's development, with eight potential investors being ready to implement projects worth $886.2 million, Russian Minister for the Development of the Russian Far East Alexander Galushka said Friday.

    VLADIVOSTOK (Sputnik) — According to the Russian Ministry for the Development of the Russian Far East, apart from foreign investment, Russian government allocated 3.8 billion rubles ($67.3 million) to the ministry itself for the infrastructure development of the island.

    "Eight investors have confirmed their willingness to implement here their projects worth 50 billion rubles [$886.2 million]. Among them, a center of nuclear medicine, an engineering center of Far East shipbuilding and ship maintenance center, a project center of energy supplies to Asia-Pacific countries, new hotels and tourist facilities," Galushka said on the sidelines of the St. Petersburg International Business Forum (SPIEF).

    SPIEF, a major global platform for communication between business representatives and discussion of crucial economic issues, kicked off in Russia's second largest city on Thursday and will continue through Saturday. Sputnik news agency is an official media partner of the forum.

    St. Petersburg International Economic Forum 2017 (183)
    St. Petersburg International Economic Forum (SPIEF) 2017, Far East Development Ministry, Far East
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