Inefficient Russian spending at Svalbard
The Russian Accounts Chamber criticizes the Arktikugol coal company in Spitsbergen for having spent 2,17 billion RUB of federal transfers inefficiently.
The financial watchdog maintains that inspections show that the money which was allocated in the period 2006-2008 have not been spent efficiently, B-port.com reports with reference to information from the Accounts Chamber.
Viktor Kosourov says that the coal mining company has not elaborated any programme on more efficient management.
Representatives of Russian authorities have on several occasions over the last years stressed their intention to step up investments in the far northern archipelago, which is under Norwegian sovereignty. Among the planned projects are both fish processing and tourism.
