A new resident of Russia’s Arctic zone, Masla SZF, will launch its own machine oil refinery. Under an agreement with the Russian Far East and Arctic Development Corporation (FEDC), investments in the project will reach 170 million rubles. The plant is planned to be located in Severodvinsk, Arkhangelsk Region.

The Russian Far East and Arctic Development Corporation (FEDC), ArktikGeolDobycha, and the government of the Chukotka Autonomous Region have agreed to cooperate to implement an investment project for the geological exploration and production of placer and ore gold. The trilateral agreement comes as part of the 4th interregional forum “Idea to Business. Business to Results” in Chukotka and was signed by FEDC Deputy General Director Darya Kiryanova, General Director of ArktikGeolDobycha Lev Feroyan, and Governor of the Chukotka Autonomous Region Roman Kopin.