OREANDA-NEWS. March 3, 2010. A regular session of the working group on assistance in involvement of investments into economy of the republic was held on February, 24 chaired by the Prime Minister of the Government of Karelia Pavel Chernov. The task of the working group was discussion of investment projects offered for implementation in Karelia, creation of conditions for involvement of investment funds in the republic.

One of the projects was offered for consideration by the Finnish party, in particular, The Innovation Company for Development of the Northwest of Russia which intends to build a Technological Village in Karelia. The first object in this village there should be a biopower station running on renewed energy sources – wood chips and peat. It is supposed that a part of the generated electric power will be used by industrial park, and a part is to be delivered to the neighbouring consumers.

Executive director of the company Tapani Koivula has made an offer to the Karelian party to study what the opportunities are as a whole for construction of such power station in the republic and generation of electric power. Finland intends to invest 160 million euros of budgetary funds in this project.

Prime Minister Pavel Chernov has hoted that both Karelia and Finland are intersted in cooperation and investing in hydraulic power development in the region. On behalf of the Prime Minister there will be created a working group for consideration of this issue.

Another investment project presented at the session was a public shopping center on Lenin Avenue. It is realized by Maxi Development company from Vologda which plans to invest from 2 to 2,5 billion roubles in the project. According to the management of Maxi Development group, there has been formed the initial list of contract organizations, financial reserves for construction and organizational structure allowing to launch the project. The company has to reconcile several issues, remove imperfections regarding technical requirements of the project and receive a positive conclusion of the State expert assessment department as well as the building licence.

Pavel Chernov has charged the Ministry of Construction of Karelia to hold meeting to solve urgent issues weekly. The main purpose of the work is to help investors to start implementation of their plans in territory of the republic.