MOSCOW, May 26 (RIA Novosti) - The governor of Russia’s Nizhny Novgorod Region urged investors on Tuesday to intensify their cooperation with the province, saying local authorities were ready to offer advantageous terms for business.
“We have considerably cheaper land resources than Moscow or St. Petersburg. We transfer land for long-term lease at rates that are four times lower than in other regions,” Valery Shantsev told the American Chamber of Commerce in Russia.
The governor said that the fee for electricity connection was five times lower in the Nizhny Novgorod Region than in other provinces, and that the region has adopted a law on investment activity, which Moscow lacks.
The governor said that a major investment project in the region included the modernization of Nizhny Novgorod international airport. The regional authorities intend to announce a tender for the airport’s modernization in May-June 2009.
The Nizhny Novgorod Region, one of Russia’s five largest regions, should be fully supplied with electric power after it builds a gas-steam power plant, and also a nuclear power plant by about 2015, the governor said.
