Veniamin Kondratyev: 15 investment projects worth 133 billion rubles currently being implemented in the region

This year St. Petersburg International Economic Forum-2024 will be held from June 5 to 8. The Governor spoke about promising investment projects for the region.

«Our region is one of the leading regions in Russia in terms of investment in the real economy. Taking part in the country’s main business event, the St. Petersburg International Economic Forum, enhances our investment portfolio. This forum has become a platform for us to share best practices and finalize major agreements. In 2023, the forum saw the signing of 30 agreements totaling over 310 billion rubles. Currently, 15 projects worth 133 billion rubles are being implemented, creating over 6,000 job opportunities in the region. Investors find projects in health resorts, transportation, and logistics, as well as the agro-industrial sectors very appealing,» said Veniamin Kondratyev.

The head of the region emphasized that the anticipated impact of SPIEF-2024 on the local market is just as significant as the impact of the previous year. A key focus is to improve the machine-tool factory in Krasnodar. The agreement signed in St. Petersburg allowed the start of the second phase of the project, beginning the full production of a new line of machine tools for the oil, shipbuilding, and power industries.

The investment policy focuses on enhancing the traditional agricultural sector of the region, alongside modernizing the industry. Agreements, like the one to construct a deep grain processing plant in Krasnoarmeysky district, aim to boost agro-export and promote import substitution. Additionally, following agreements made at SPIEF-2023, a fruit storage facility with a capacity of 10.5 thousand tons of finished products per month is close to completion in Slavyansk district. Moreover, a production and warehouse complex for food storage is currently being built in Novorossiysk, with an investment of 4.2 billion rubles, creating 500 new jobs.

Landmark agreements in our resort region involve the development of modern accommodation facilities. In Anapa, a resort complex is currently under construction with an international brand, capable of accommodating 1,200 guests at the same time. Meanwhile, in Sochi, the renovation of the historic Volna sanatorium is ongoing, with plans for cafes, restaurants, sports and spa centers on the premises. Additionally, a beach area and park will be renovated. The restoration of the cultural heritage site, the Crystal Sochi boarding house is also in progress. As part of the project, a new wing with 4-star rooms will be added to the sanatorium.

It typically takes about five years to complete a project. The changes in the region become noticeable once the projects are completed. For example, after the 2019 agreement, the grain terminal in Novorossiysk was reconstructed. This involved constructing new grain storage areas, a transport hub, and a deep-water dock, leading to a 2.8 times increase in the facility's capacity to handle 7 million tons of grain each year.

In 2022, following initiatives at the SPIEF, a mushroom cultivation center was set up at the Green Line complex in the region. Moreover, a facility for cultivating and processing salad products was opened, showcasing an agro-platform named Salads from the Sea in Raevskaya village, capable of producing 5,000 tons yearly. Additionally, a plant for processing salads and vegetable products, known as Belaya Dacha Yug, was established in Bryukhovetskaya village.

All the main forms of state support are available in the region, totaling over 185. These include subsidies, grants, loans, benefits, and guarantees. In 2023, the total financial support reached 45.6 billion rubles.

To date, the region is implementing 510 significant investment projects in industry, resorts, and agribusiness, totaling 2.9 trillion rubles. Upon completion, these projects will create over 103,000 new jobs.

The St. Petersburg Economic Forum has been held since 1997, and since 2006 it has been held under the patronage and with the participation of the President of the Russian Federation. Over the years, the Forum has become a global platform for business community representatives to communicate and discuss important economic issues affecting Russia, emerging markets, and the world. This year SPIEF will be held for the 27th time. Traditionally, the business program tracks will be devoted to the global and Russian economy, social issues and technology development.

Source - Investment portal of Krasnodar