Far Easts Amur region considers metal and coal-mining clusters | Far East, Materials, extraction MarchmontNews.com

Far East | Materials, extraction | Industry, manufacturing

Far East’s Amur region considers metal and coal-mining clusters

7 Dec '12
The Amur regional government and a group of local businesses have inked a memo that calls for the development of metal and mining as well as coal-mining clusters in the area, news agency RIA Novosti reports citing a source in the regional administration.

Companies that signed the memo reportedly include sizable energy and financial entities such as Far East Energy Consortium, MOST.RU Group, and also the regional Far East and Baikal Region Development Fund.

The project will take “several years” to complete and calls for the development of a number of iron ore deposits in the Amur region, as well as construction of a steel-making factory, railroads, and highways. The region expects the ambitious project to create at least 40,000 new jobs in the area.

“The partners will cooperate in the drafting and realization of the cluster projects and also in the overall revamping of local infrastructure,” the Amur administration said.

Regional authorities are happy to have as a partner the Far East and Baikal Region Development Fund. It is a growing government entity, for which Russian President Vladimir Putin promised additional funding earlier this month, thus boosting its capitalization by an impressive 200 times.