Yakutia plans to boost industrial production by nearly 30% by 2024, the editorial office of Made in Russia told the Yakutia Press Center in Moscow, citing the macroeconomic forecast at the regional economy ministry.

"The volume of gross regional product of the republic in comparable assessment by 2024 is projected to grow by 19.8% due to the implementation of major investment projects of industry and infrastructure, and the growth of industrial production by 29.1% in 2024 to the level of 2021," the report said.

The proliferation is associated with increase of production of coal by 1.9 times, natural gas by 2.2 times, gold by 1.4 times, oil by almost 10% and diamonds by 2.4%.

According to the ministry, between 2022 and 2024 the total amount of investment in fixed assets is estimated at 942 billion rubles (baseline scenario) due to investment projects for development of Elga Coal Complex, expansion of oil and gas fields development in western Yakutia, increased capacity of Southern Yakutia and Yakutia Advanced Development Territories' residents, implementation of gold deposits projects, construction of the Lena Bridge, high-tech Zhatai shipyard, upgrading of airport complexes, construction of federal and municipal buildings and infrastructure.

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Author: Ksenia Gustova