Russia and Japan to Invest $16Bln in Russia’s Far East

PHOTO by petropavlovsk / Depositphotos

Russia’s First Deputy Minister for Development of the Far East Alexander Osipov and Japan’s Vice-Minister of Economy, Trade and Industry Hirofumi Katase met and discussed the plan on intensifying economic cooperation between Russia and Japan in the Far East, according to a statement made by the Ministry for Development of the Far East. The plan includes 18 areas and projects with a total monetary value of over one trillion roubles ($16 billion).

The countries plan on working together in such industries as energy, transport, healthcare, as well as the establishment of joint investment platforms.

Collaborative projects are to include the development of Chulmakansky and Denisovsky coal mines, construction of a coal terminal in Muchke Bay (Khabarovsk Krai), lida Group Holdings investments in the timber industry, modernisation of the Khabarovsk International Airport, and the launch of the second batch of greenhouses in Khabarovsk Krai by JGC. Both parties also discussed the development of the Northern Sea Route, as well as the creation of an aerospace facility based on Vostochny Cosmodrome.