Tyumen region to remain reliable foundation of Russian economy for decades

The Tyumen region, consisting of three equal subjects of the Russian Federation, took several steps, owing to which the region will be able to remain a stable foundation for the economy of the entire country for many years ahead.

The creation of a large oil and gas processing cluster appears to be a very important step for the Tyumen region. The cluster will be created on the territory of the West Siberian oil and gas province. Previously, residents of the Tyumen region were accustomed to the fact that they only produce raw materials, whereas the processing is conducted in other regions.

Coordinated action between the authorities of districts and the region, local administrations, business representatives, the general public and thousands of workers of different specialties made it possible to come to the tuning point.

The main factor that prompted the Russian business community to make truly landmark decisions was the favorable investment climate in the Tyumen region. The region and its districts stand out for stability of legislation (regulatory framework constantly improves there to create conditions for investment and innovation). The state provides for active support for investment activity as well.

All three subjects of the Federation take the lead in terms of investment in fixed assets. Both Russian and foreign investors point out the attractiveness of the West Siberian region.

The most telling example of establishing a competent investment process within the scope of three regions at once is a project that is being implemented right before our eyes. It goes about product pipeline "Purovsky Condensate Processing Plant - November Oil Loading Rack - South Balyk Head Pump Station - Tobolsk Petrochem." The product pipeline is 1,100 kilometers long. On June 4, 2014, the heads of NOVATEK and SIBUR informed Russian President Vladimir Putin on the completion of the construction of the project.

The implementation of the project has turned Russia from an importer of basic grades of polypropylene to an exporting country. The Tobolsk production, when reaching full capacity, will enter the top three of world's largest productions.


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Author`s name Editorial Team