Authorities in Voronezh region intend to set up a $395m Chertovitskoye transport and logistics zone, Kommersant reports.

Of the total funding, $375m is expected to be raised from the private investors, $15m is to be allocated from the RF Investment Fund, and $5m is to be put up by regional authorities.

Under plans, the zone is to be located ob a 117-hectare land site in the Northern suburb of Voronezh, next to M4 federal highway, and is to have 281,000-square-meter storage facilities.

The project is reportedly to be carried out in two stages.

Under the first stage, to run till 2012, the investors are to build six storage complexes with total area of 180,000 square meters, 7,000-square-meter technical centers and a recreation zone.

Under the second stage, scheduled to run in 2013-2015, the investors are to build 101,000-square-meter storage complexes, 21,000-square-meter container terminal, 5,000-square-meter technical center, 42,000-square-meter cargo processing facilities and a 3,000-square-meter recreation zone.