Minister: Russia to invest 1 tln rbl more in Far East in 2016

MOSCOW, May 4 (PRIME) -- The new mechanisms for development of Russia’s Far East have already attracted 1.03 trillion ruble investments and the amount will exceed 2 trillion rubles by the end of 2016, Far East Development Minister Alexander Galushka told President Vladimir Putin on Wednesday.

Of the total amount of investments raised so far, 950 billion rubles are private and 80 billion rubles are state contributions.

“This way the effectiveness, the multiplier is one to 12: we raise 12 rubles of private investments per 1 ruble of budget funds,” Galushka said.

He said that the investments will be spent on 200 new industrial facilities.

(64.3334 rubles – U.S. $1)

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