Chechnya to Seek Investment at St. Petersburg Forum

GROZNY. June 6 (Interfax) – The Chechen government plans to use the 11th St. Petersburg International Economic Forum on June 8-10 to seek investment in Chechnya’s industry, including its transportation, communications and energy sectors, a Chechen minister said on Wednesday.

“A large delegation from Chechnya will take part in the St. Petersburg forum. We are planning to put 35 investment projects and proposals before the forum,” Economic Development and Trade Minister Abdula Magomadov told Interfax.

“The total cost of those projects is nearly 30 billion rubles,” Magomadov said.

“We primarily propose investment in the construction of an oil refinery in Zavodskoi district in Grozny, the use of hydroelectric resources of the Argun river, and the manufacture of local food products,” he said.

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