Yakutian authorities initiate establishment of an advance development territory (ADT) in the northeastern part of the region to develop gold, silver, and tin resources. Implementation of the project will tentatively make possible to raise investments of 27 bln rubles ($426.5 mln) and create about 1,700 jobs, acting prime minister of the Russian region Vladimir Solodov told TASS on Thursday.

"We will initiate creation of the advance development territory in the northeast of the region," Solodov said. "According to preliminary estimates, its establishment can support about 1,700 jobs and attract over 27 bln rubles ($426.5 mln) of private investments," he noted.

Four anchor investors are provisionally designated within the ADT, the official said. "Core activities of potential residents for investments projects of ADT conventionally titled "Subsoil Use and Resource Processing" are mining and concentration of tin ore and precious metal ore and sand mining," Solodov said.

Establishment of the ADT is line with the Russian state program for socioeconomic development of the Arctic Zone, stipulating incentivization of mineral resources mining and processing.

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http://tass.com/economy/1011253