A Chinese entrepreneur is exploring the possibility of developing the Krutogorovsky coal deposit 23.06.2023

Chinese entrepreneur Sun Fengsheng established World Food and Agriculture Development Grop Limited (rus) LLC with an authorized capital of one million rubles on the Kamchatka Territory.

The company, despite its name, obviously focused on the development of the agro-industrial complex and export-import supplies of food, assumes other types of economic activity. According to Sun Fengshen, the main project of the created compqny may be the development of the Krutogorovsky coal deposit located on the territory of the Sobolevsky district of Kamchatka.

Sun Fengsheng estimates the first stage investment capacity of the project at about one billion dollars. The Kamchatka labor market is expected to increase by more than a thousand new jobs. The entrepreneur also plans to create, together with Chinese partners, a maritime transport company specializing in the delivery of coal from the mining site to consumers, as well as focused on transit transportation along the Northern Sea Route. Sun Fengsheng expresses his willingness to invest in the implementation of the master plan for the spatial development of Petropavlovsk-Kamchatsky.

The Chinese entrepreneur told about his plans at a meeting with the First Deputy General Director of the Development Corporation of Kamchatka Mark Balyasny. The General Director of the Far Eastern Society of Friendship with China Ilfat Gareev also took part in the meeting.

We do wish our Chinese partner the realization of all his business ventures in Kamchatka. It is significant that while speaking about plans for the development of the Krutogorovsky coal deposit Mr. Sun Fengsheng, paid special attention to environmental safety issues," said Mark Balyasny. – For us, the issues of strict compliance with environmental legislation are the most important aspect of any investment project, especially in the field of mineral extraction. During the negotiations, we decided to prepare an agreement between the Development Corporation of Kamchatka and World Food and Agriculture Development Grop Limited (rus) on intentions in the implementation of the investment project "Development of the Krutogorovsky coal deposit". Within its mandate, the Corporation is ready to provide extensive assistance to Chinese partners for successful integration into the Russian economic space and obtaining measures of state support."