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Republic of Karelia
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Foreign investors
in Republic of Karelia
OJSC "Corporation for Development of the Republic of Karelia"
Director: Anna Pozdnyakova
Address: Republic of Karelia, Petrozavodsk, ul. Engelsa, 4
Tel.: 8(8142) 76-47-62
Time zone: Moscow +1



China State Energy Engineering Corp. (Sinomec) and the Government of the Republic of Karelia have signed a cooperation agreement in Petrozavodsk providing for the construction of a RUB 9 bln wind power plant that will become the first wind power plant in the Republic, TASS correspondent reports from the signing ceremony held in the presence of Sinomec Senior Vice President Li Yang and Head of the Republic of Karelia Alexander Khudilainen.
The Karelian delegation visit to Austria resulted in signing the Cooperation Agreement between Karelian Government and Backaldrin Holding AG, a major international company (Backaldrinvest). It provides for construction of the production facility that can produce the goods used in confectionary and bakery on the Republic territory. This facility will take place in Vyartsil urban settlement of Sortavala District. It is going to be built on the industrial site which is made within the federal target program of Karelia’s development up to 2020.
Negotiations are currently under way to attract foreign investors for the development of the Onega Shipyard (Petrozavodsk, Karelia) and the development of new modern production facilities (including building ships from composite materials) on the principles of a public-private partnership, the Russian government’s press service reported following a visit to the Onega Shipyard by Prime Minister Dmitry Medvedev.
BRICS New Development Bank (NDB) approved funding of the project for the construction of small HPPs in Karelia. "Today, we have approved our project in Russia for a total amount of $100 mln", announced the President of the Bank, Kundapur Vaman Kamath.
On October 27, Alexander Khudilaynen, the Head of Karelia, met with executives from Omatalo. They discussed the company’s intention to build a plant in Petrozavodsk to manufacture modules for housing assembly.

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