en.Wedoany.com Reported - Rosatom is developing a financial and economic model for the development of the Northern Sea Route, which plans to attract approximately 5 trillion rubles in private and state investment by 2030, with a similar scale of investment by 2035. The company's head, Alexei Likhachev, revealed at a panel session of the St. Petersburg International Economic Forum (SPIEF) that this work is being carried out in accordance with government instructions.

Likhachev stated that without core budget funding support, this work would be difficult to complete. However, the project's task is pragmatic, aiming for state investments to yield a tenfold return in the form of tax revenues in the future.

The development of the Northern Sea Route will proceed in three stages. The first stage, by 2030, based on current Arctic projects (including energy projects) and strengthening partnerships with China and India, is expected to achieve cargo volumes of 70 million to 109 million tons. The second stage (2031-2035) is expected to enable year-round navigation using the principle of convoy sailing. Likhachev noted that the eastern region currently still operates on a schedule. The third stage (2036-2040) is expected to systematically increase eastbound cargo flows, including two scenarios. The baseline model is 135 million tons of cargo, but preparations must be made for the second scenario—an explosive growth in transport volumes, at least doubling.

The growth in transport volumes requires the construction of corresponding infrastructure, including escort vessels, power grids, pipelines, ports, and more.

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