MURMANSK, November 29. /TASS/. Five investments projects worth more than 112.9 billion rubles ($1.5 billion) are being implemented in the Polar Region to make a Northern Sea Route transport and logistics complex in the Murmansk Region, the regional economic authority said referring to Deputy Governor Olga Kuznetsova.

"The Murmansk Region implements five investment projects, where investments will be more than 112.9 billion rubles," the authority quoted the deputy governor as saying. "The projects are aimed at effective use of the Northern Sea Route."

The five projects, she continued, will be the organization of a transport and logistics complex, which is the region’s key economic development direction. The complex will include the Vitino seaport and oil base, the Tuloma sea terminal for mineral fertilizers, the Udarnik terminal, the Rosatom Cargo transport-logistics hub, and the Lavna complex to handle coal and general cargo.

Additionally, the deputy governor said the region eyed the construction of a power station on the Kola Bay’s western shore to supply energy to large-scale projects. The construction with investments of about 3 billion rubles ($40 million) would be in the framework of the Arctic concession mechanism, she added.