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WorldAsiaInvestment project "Yenisei Siberia": three in one

Investment project “Yenisei Siberia”: three in one

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In 2018, the Comprehensive Investment Project (CIP) “Yenisei Siberia”, initiated by the heads of three constituent entities of the Russian Federation (Krasnoyarsk Territory, Republic of Khakassia and Republic of Tyva), received government support of the country and personally Vladimir Putin. Currently, the CIP includes 32 major investment projects with a total declared investment value of more than 1.9 trillion rubles for the period 2019-2027.

The features of the market economy and the federal principle of the structure of our state often lead to a significant discrepancy in the levels of development between the regions of Russia. Currently, various mechanisms of interaction between the constituent entities of the Russian Federation, which will allow to increase the level of socio-economic development of the regions much more effectively, are practically not used. A pleasant exception in this regard is the comprehensive investment project “Yenisei Siberia”, which consists in the spatial integration of the three Siberian regions of the Russian Federation. It is assumed that its implementation will make it possible to form a single complex for the development of mineral resources and allocated funds in the territory of the three regions.

It should be noted that to date, participants of the CIP Yenisei Siberia have already employed more than 4.2 thousand people. Small and medium enterprises are actively involved in the implementation of most projects. By 2027, more than 70,000 new jobs are expected to be created in the three regions. In the future, the above-mentioned subjects of the Russian Federation will be able to receive about 528 billion rubles of tax revenue in their budgets. At the beginning of the current calendar year, Sergey Ladyzhenko, General Director of the Yenisei Siberia Development Corporation, said that most of the planned projects included in the CIP are currently being implemented at an active pace. Work is underway at construction sites, already this spring-summer season a number of companies are planning to enter the stage of construction and installation works.

Particular attention should be paid to the largest projects implemented within the framework of the “Yenisei Siberia”, we are talking about industrial and transport facilities, the volume of investment in the implementation of which exceeds one hundred billion rubles. Currently, there are six such projects:

  1. The development of the Angara-Yenisei economic region implies the creation of conditions for the socio-economic development of the western region of the Lower Angara region. This region has a strong potential in natural resources, it is planned to carry out works of development of the reserves of zinc, antimony, lead, magnesite, talc and bauxite on its territory. The estimated volume of investments should be 197.9 billion rubles. The commissioning of all the facilities included in this project is planned by 2027.
  2. Construction of the Nizhneboguchanskaya hydroelectric power station. As part of this project, a new reservoir and hydroelectric power station should appear on the lands of the Boguchansky and Kezhemsky districts of the Krasnoyarsk Territory. Investments in construction are carried out by the company Nizhneboguchanskaya HPP, the founder of which is Rusal JSC. Financial investments in the project should amount to 119.3 billion rubles. It is assumed that the new hydroelectric plant will appear on the energy map of the country by 2028.
  3. Development and development of the Payakhskaya group of fields and construction of the sea terminal “Port Bay Sever”. Under this project, it is expected to achieve oil production of up to 26 million tonnes per year and maintain a long-term production target of over 20 million tonnes per year. In addition, a maritime terminal “Port Bay Sever” must appear 40 kilometers from the village of Dikson. About 30,000 new jobs will be created for the operation and maintenance of new industrial facilities in the Krasnoyarsk Territory. The total investment in the implementation of this project will amount to 330 billion rubles, commissioning is planned for 2024.

  4. Construction of a timber industrial complex and related railway infrastructure in the Boguchansky district of the Krasnoyarsk Territory. In this place, Kraslesinvest JSC plans to implement the largest project of the Russian Federation for the development of forests in our country. The proposed investment object will be 106.9 billion rubles. The estimated implementation date is 2025.

  5. Construction of the Elegest – Kyzyl – Kuragino railway. This project will be implemented for the export of coal mined from the Elegestskoye deposit in the Republic of Tyva with further access to the Trans-Siberian Railway. The development of transport infrastructure will be carried out simultaneously with the construction of the plant on the ground. Investments in this project should amount to 126 billion rubles.

  6. Creation of a manufacturer of metals for batteries. As part of this project, the third largest industrial center in the Russian Federation specializing in non-ferrous metallurgy will emerge. The key basis for its development will be the unique platinum-copper-nickel and copper-molybdenum deposits located in the south of the Krasnoyarsk Territory and the Tyva Republic. The commissioning of new facilities is planned for 2026, the total investment will amount to 158.4 billion rubles.

Most will pay attention to the fact that in the vast majority of cases, within the framework of the PIC Yenisei Siberia, we are talking about projects that are implemented on the territory of the Krasnoyarsk Territory. This region is an economic donor for neighboring subjects, therefore, the interregional integration mechanism used within the framework of “Yenisei Siberia” in the future should allow Khakassia and Tuva to improve their socio-economic situation.

Despite all the statements about the benefits of this project for economically backward regions, at the moment it can be noted that the positive effect is especially pronounced in the Krasnoyarsk Territory. In five years, the region managed to climb two places in the ranking of constituent entities of the Russian Federation in terms of investment volume and currently occupies seventh place. Moreover, in terms of investment potential, the Krasnoyarsk Territory ranks fifth in Russia.


Author: Viktor Anufriev

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