RUR 2.4 billion to be invested in Kaspiysk under single-industry towns support program

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Makhachkala, December 13, 2016. Approx. 2.4 billion rubles of investments are expected to be attracted in Dagestan town of Kaspiysk under the state single-industry towns support program.. According to the source in the Single-Industry Towns Development Fund more than 650 million rubles will be invested into the municipal infrastructure.

"Till 2020, approx. 2.4 billion rubles will be invested in the development of a number of investment projects in the town of Kaspiysk after the development of gas and potable water supply infrastructure, the sanitation system, power grid and road construction. For these purposes, the Fund allocates over 650 million rubles"- the press service of the Fund reports.

The construction of a plant of building materials is the key project in Kaspiysk. It is planned to attract 1.8 billion rubles (including from non-budgetary funds) and to create 280 jobs directly within the framework of the project. The other investment projects will provide 850 jobs.

The Fund official also noted about a special managers’ preparation program for the investment projects. Besides, according to the source, the municipal authorities are working out an integrated development program for Kaspiysk, which includes sub-projects aimed at boosting investment attractiveness, the creation of favorable conditions for the development of small and medium-sized businesses, the promotion of investment projects, the state support measures for single-industry towns, the development of social infrastructure, etc. This year, Moscow School of Management SKOLKOVO - one of the leading private business schools in Russia and the CIS countries, trained a team of managers from Kaspiysk. In 2017, a group of specialists from the other single-industry towns of the North Caucasian Federal District will be sent to the School.

Nowadays, there is one more settlement with the mono-town status in Dagestan.

The Fund spokesman also reported that most successfully developing towns will receive the status of the territory of advancing social and economic development. According to the plans, by 2018 this status will be granted to 18 Russian single-industry towns with the successful development of investment projects.

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