The Ministry of the Far East Development talked about the role of the Transarctic Corridor

The Transarctic Transport Corridor (TTC) plays a key role in the development of the Arctic's investment potential, the press service of the Ministry of Regional Development of the Russian Federation told Izvestia.

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"This is the most efficient logistics route for the sale of products produced in the Arctic zone of Russia and the Far East, including for export. The Transarctic transport corridor allows for its transportation to the main consumers with the least time and economic costs," the ministry explained.

The TTK project will directly affect the quality of life of more than 3 million residents of the Arctic regions and territories of the Far North, the ministry noted. In particular, thousands of jobs will be created. And not only in ports and on ships, but also in related industries: shipbuilding, energy, geological exploration, as well as in the field of small and medium-sized businesses.

At the same time, the development of the TTC will create a multiplicative project for the Russian industry through the implementation of large-scale investment projects in key sectors of the economy. These projects stimulate the creation of new production chains and strengthen the technological sovereignty of the country, the Ministry of Regional Development emphasized.

Read more in the Izvestia article:

The way through the ice: how the Transarctic Transport Corridor is changing the global logistics map