Governor of the Murmansk Region Andrey Chibis presented the project “New Murmansk” at the St. Petersburg International Economic Forum (SPIEF). The project implies comprehensive renovation of the industrial territory of the Murmansk ship-repair factory of the Marine sea fleet and its transformation into unique urban space together with the creation of an international cultural and business center. Chairman of Russia’s national economic development institution VEB.RF Igor Shuvalov took part in the presentation.
In his presentation Andrey Chibis stressed that implementation of this large-scale project is to boost the economy, create new jobs and foster the tourist potential of the North. Once implemented the “New Murmansk” will become the leading business platform in the Arctic region to discuss the development of the North and the Arctic.
The “New Murmansk” project has a significant investment potential. Major investors and international real estate operators, including Accor and IHG hotel chains, Russian Railways and other organizations have already expressed their interest. The estimated cost of the project is about 15.5 billion rubles.