Chairman of the Russian Federation State Duma and Head of United Russia’s Supreme Council Boris Gryzlov feels the government should support The Industrial Urals – The Polar Urals (an ambitious large-scale project on the industrial development of the Urals’ north) by providing some subsidies from the Investment Fund, Prime TASS reports.

‘United Russia has been involved in this project for two years now. I believe the documentation will have been fully confirmed by the end of the year; however, the state budget does not cover the financing for the project in 2010-2012,’ Gryzlov said to Head of Russian Federation Government Vladimir Putin.

‘In my view, we could use some of the Investment Fund reserves. In case this happens by April 1, 2010, the Russian industry’s mineral resource base (largely concentrated in the Urals) will improve considerably,’ he explained. The official also pointed out that the country really needed this improvement because the current depletion of reserves made most metallurgical enterprises rely on imported raw stuffs.

‘This project has been under development for a while now. It’s not ready yet, but I agree with you that this will be a very promising state-private partnership,’ Vladimir Putin said.



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