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Land in Russian Subarctic to be allotted without auctions

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Land in Russian Subarctic to be allotted without auctions

Investors implementing social, cultural, communal and large-scale investment projects might be granted plots of land without auctions, Minister for Industry and Entrepreneurship Development of the Murmansk region, Olga Kuznetsova, told Interfax.


According to Olga Kuznetsova, a corresponding decree was adopted by regional government on the 28th of October. The law applies to projects compliant with a number of criteria. This includes a minimum amount of investment of 20 million roubles with 50% of internal funds, creation of at least 10 new jobs, a business plan.

An investment project can be considered to be a large-scale in case it has a status of a priority or a strategic one for the region.

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