The Russian state atomic energy corporation Rosatom’s investments in the development of Russia’s Arctic region through ongoing projects will help in creating around 6,000 jobs via investments of more than 700 billion rubles by 2030, according to Rosatom.
This was stated by Rosatom’s special representative Vladimir Panov at a conference session last week titled “Investment Projects in the Arctic: Incentive Regimes” held at the recently concluded St. Petersburg International Economic Forum (SPIEF) 2022.
“A third of these funds is the renewal of the icebreaker fleet. Another quarter are mining projects – a lithium project, Sovyinoye, Pavlovskoye. In addition, Rosatom is equipping the NSR (Northern Sea Route) facilities, building port infrastructure, and developing transit”, a Rosatom statement said.
“In 2028, Russia’s first ground-based small nuclear power plant (SNPP) will be put into operation. It will provide at least 55 MW of environmentally friendly energy for the development of the Kyuchus field and nearby settlements. Each ruble invested in the SNPP construction project in the Republic of Sakha (Yakutia) brings to the Russian economy on average 2.6 rubles at the construction stage and 2.4 rubles at the operation stage”, the statement added. Yakutia is located in the Arctic region.
Earlier this year, Russia commissioned a new nuclear-powered icebreaker named Sibir, the first in a series of such icebreakers being constructed under its “Project 22220”, which will help keep the Northern Sea Route open for year-round shipping through the Arctic
The Northern Sea Route via the Arctic is the shortest route between East Asian and Western European ports. The nautical distance between Shanghai and Rotterdam via the NSR is expected to be 30 percent shorter than the Suez Canal route, saving travel time by 10–12 days. Similarly, the distance between Yokohama and Rotterdam will be reduced by half.