Project on industrial development of Urals’ north to be slowed down, Severo-Zapad says

14 November 2008 (09:11)

‘The complete closing down of all the investment projects is unlikely, but most of them will probably either be frozen or reconsidered for the time of the crisis,’ director of Severo-Zapad strategic projects fund Vladimir Knyaginin announced at the 3d interregional conference on the investment projects in the Greater Urals.

‘Projects like the one on the industrial development of the northern parts of the Urals (known as The Industrial Urals-The Polar Urals) were naturally targeted at the metallurgical sector. These enterprises, however, intend to freeze their investment projects for the time being, which means the implementation rate of such infrastructure projects will be slowed down,’ he added.

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