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Vnesheconombank to Provide Investment Consulting Services to OJSC Resorts of the North Caucasus

16 september 2011 года
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In the course of the 10th Sochi 2011 International Investment Forum, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and OJSC Resorts of the North Caucasus entered into an Agreement on Providing Investment Consulting Services.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of OJSC Resorts of the North Caucasus – by Board Director Akhmed Bilalov.

Under the Agreement Vnesheconombank is to provide investment consulting services to OJSC Resorts of the North Caucasus on the project aimed at building a tourist cluster in the North Caucasus Federal District and work out a range of programs to fund investment projects of small and medium-sized enterprises ( similar to terms and conditions of funding Olympic facilities).

A pilot project on creating a tourist cluster is the project to build the first start-up complex of the Arkhyz all-season mountain resort (LLC Arkhyz-1650, the Zelenchuk district). The project is being implemented with the participation of the Sinara Group. The project’s total value is 6.4 billion rubles, Vnesheconombank participation share is 5 billion rubles. 690 new jobs are expected to be created, increased budget revenues will amount to 850 million rubles

OJSC Resorts of the North Caucasus was established on December 2, 2010 subject to Russian Government Resolution №833 in order to develop a mountain tourist cluster and build five multifunctional alpine ski resorts in the Krasnodar region and the Republic of Adygeya (Lagonaki), the Republic of North Ossetia (Mamison), the Karachaevo-Cherkess Republic (Arkhyz), the Kabardino-Balkar Republic (Elbrus-Bezengi) and the Republic of Dagestan (Matlas).

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone +7(495) 608- 46-93, Fax: +7 (499) 975-21 -34
E-mail: press@veb.ru


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