$142 million to be invested in Yakutia’s innovation cluster

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$142 million to be invested in Yakutia’s innovation cluster
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Investments in the establishment of an innovative cluster Kangalassy 2.0 in Russia’s Far Eastern Republic of Yakutia will amount to 9.6 billion rubles ($142 million).

This is stated in a press release by the international consulting company Knight Frank.

“The facility will be located in a micro-district of Kangalassa in Yakutsk on the territory of 65 hectares, with the prospect of expanding to 1,000 hectares. The investment in the project will amount to 9.6 billion rubles”, the report says.

The former mining community, now the district in the city of Yakutsk, will house a production unit, as well as a creative, educational and ecological component. The company Knight Frank in a consortium with the agency of strategic development Center are building up a concept of Kangalassa 2.0.

As a reference, Yakutia comprises half of the Far Eastern Federal District of the Russian Federation and is the 8th largest territory in the world. The region is also known for its extreme and severe climate.