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Unprecedented Russian Investment In Crimea

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Unprecedented Russian Investment In Crimea

The Crimean Bridge

The Russian Federation’s investment in the development of the Crimean peninsula is unprecedented. In  only 6 years after the reunification of the peninsula with the Russian Federation, many projects were implemented in the shortest possible time, such as the resumption of work of a number of factories, the opening of world-class hotels, the reconstruction of urban infrastructure, etc.

Among the largest projects , the new international airport was built in the capital of Crimea, Simferopol. Its investment project amounted to 32 billion rubles. Construction work started in may 2016 and was completed by the end of 2017. The need for such a rapid construction was caused by the fact that the old terminal could not cope with the flow of citizens due to the termination of any air and railway communication from Ukraine to the Crimea.

Unprecedented Russian Investment In Crimea

Simferopol international airport

The opening of the new Crimean bridge connecting the Kerch peninsula with mainland Russia was of historical significance. With a total length of 19 km, the Crimean bridge is the longest bridge ever built by Russia and is often called the longest in Europe. Not only the road section has already been put into operation, but also the railway connection, which was opened in 2019. According to official data, the cost of the bridge is 228 billion rubles.

The Tavrida highway, which runs along the entire peninsula and has a length of 250 km, was officially opened in August. Only half of the route runs on existing roads, while the second part was newly put. The construction of the highway, cross-road elimination structures and other neighbouring facilities requested about 200 billion rubles.

Unprecedented Russian Investment In Crimea

Tavrida Highway

Unprecedented Russian Investment In Crimea

Tavrida Highway

In the spring of 2020, a contract for the construction of two helicopter carriers for the Russian Navy worth about 100 billion rubles was signed with the Crimean shipyard “Zaliv” (“Bay”). On July 20, 2020, the laying of these carriers took place.

In 2017, Ukraine completed the construction of a dam in the Kherson region, which completely blocked the fresh water supply for the Crimean peninsula. To solve the problem of fresh water supplies, Russia is implementing a large-scale project of the Crimean water pipeline. In addition, on September 19, it was announced that the government of the Russian Federation will allocate 8.2 billion rubles for the construction of desalination facilities for the Crimea and Sevastopol. According to official documents, 7.8 billion rubles for these projects will be allocated from the Federal budget, and 400 million rubles from the regional budget. The government of the Russian Federation will allocate about 50 billion rubles to implement a comprehensive plan to ensure reliable water supply to Crimea. The construction of facilities is planned to be completed the project by 2022.

In just a few years, Russia has already invested and sponsor more than 1 trillion rubles (about $ 17 billion) in the Republic of Crimea, including funds that were deployed within different Federal programs. Despite the fact that at the time of Crimean unification with Russia, the GRP of Crimea represented only about 0.25% of Russia’s annual GDP. At the end of 2019, the budget revenues of the Republic amounted to 46.7 billion rubles.

The current level of investment in Crimea is comparable only to the Soviet Union global projects aimed at the industrial development of its peripheral territory like the Baltic States, Ukraine, and Kazakhstan.

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