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16 / 09 / 2020

Russia mulls a megaport on the "Arctic Silk Road"

Authorities in Russia are making moves to build a large port on the Kola Peninsula in the far northwest of the country to take advantage of the receding Arctic ice cap.

The international shipping industry has been watching the opening of the “Arctic silk road” between the western Pacific and the northern Atlantic because it would halve the time it takes for containers to get from Shanghai to Rotterdam.

Rusatom has suggested that it will spend some $7bn on developing the Arctic for trade.