The company "White Sea Resources" received the status of a resident of the Arctic Zone of the Russian Federation (AZRF) in order to implement a project for the extraction and processing of algae from the White Sea in the Republic of Karelia. The investor plans to obtain from the raw material the algal grain of the bladderwrack, which is in demand in the production of dietary supplements, feed additives and functional nutrition. The enterprise will produce 200 tons of finished products per year. The project is scheduled to be commissioned at the end of 2026. According to the agreement with the Far East and Arctic Development Corporation (FEDC), the investment volume in the project is 22.85 million rubles.
The head of the company noted that the implementation of the project became economically profitable due to the use of government support measures – tax and administrative preferences available to entrepreneurs thanks to the Arctic Zone of the Russian Federation regime.
"The project of the “White Sea Resources” company will make a significant contribution to the development of the bioeconomy of the Republic of Karelia. Together with the regional government, we will support the project at all stages of implementation for the successful launch of the new production. The demand for this business area is confirmed by another resident of the Arctic Zone of the Russian Federation - the “Marine Biotechnologies” company in 2022 put into operation a production complex for processing seaweed in the Belomorsky District of the republic. In addition, in the Loukhsky district, residents of the Arctic Zone of the Russian Federation are also implementing projects in the field of mariculture - they are creating farms for growing mussels," said Anastasia Zhuk, Director of the Department for Support of the Implementation of Investment Projects of the FEDC.