OREANDA-NEWS. On 05 February 2009 was announced, that on January 30 Prime Minister of Karelia Pave Chernov has held a scheduled session of the working group of the Government of the republic on involvement of investments into economy of the region. Realization of the project on opening of five granite quarries in Pitkäranta region, the project of creating a wood chipboard producing enterprise in Prionezhsky region, as well as preparation for beginning of Pudozh Megaproject implementation aimed at development of three large ore deposits in the south of Karelia were considered at the session.

Despite of financial crisis, investors have declared intention to continue implementation of these projects. Total cost of the project in Pitkäranta region makes EUR35 million. It is expected that EUR 10 million for purchase and installation of equipment, as well as on arrangement of approach road and delivering of electric power will be received in May, and by December the first of the planned quarries will be in production. On results of the project implementation total number of new workplaces will make about 600, and total volume of production - from 5 to 7 million cubic metres of crushed stone a year. The package of orders to quarries has been already generated, including export deliveries of crushed stone, for example, it will be uses at construction of containments for shut-down nuclear power plants in the Baltics. No requests and claims to the Government of Karelia were received, investors have thanked for the assistance rendered and have promised to bring the ready investment agreement to the following meeting.

The first in Russia factory producing OSB boards may appear in territory of Karelia within the next two years. Total amount of investments into this project exceeds 7,5 billion roubles. In case of successful opening of the factory in Prionezhsky region there will appear 250 new workplaces.

The issue regarding launching of Pudozh Megaproject implementation runs into necessity of raising rather significant sums for construction of the branch railway, powerful electric station and high-voltage lines. Some of these objects are already included in the long-term plans of development of Russian Railways and federal ministries. Now the Government of Karelia intends to solicit for acceleration of implementation of these plans. Besides, creation of the government-private corporation to search for partners ready to invest in development of ore deposits in Pudozh will be considered. Successful implementation of the project may result in creation of several large integrated iron-and-steel works in the region and a town with 40 thousand residents and all the corresponding infrastructure.

In 2009 at sessions of the working group there will be considered 30 investment projects in various branches: mining and timber industry complex, engineering industry, food-processing industry, travel industry, trade, and home construction activity.