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| Northern Caucasus Resorts megaproject presented at MIPIM Alexey Nevskiy, Director General, OJSC Northern Caucasus Resorts Company (NCRC), presented the largest $15 billion-worth project in the area of alpine ski tourism in the world at the MIPIM 2011 International Exhibition business programme. NCRC held a presentation the detailed plans of its five mountain resorts, including the world‟s second highest mountain resort at Mount Elbrus, developed by the leading consultancy, Masterconcept Consulting Ltd. Investing in tourism is an initiative of the Russian presidency, based on the Caucasus‟ unexploited potential for mountain resorts, comparable to those in Colorado or the Alps. Visitor numbers are approximately one million a year today. Under the project the Russian state is bearing all the expenses for the creation of the transportation and energy infrastructure. Investors receive a site which is completely ready for construction with all the necessary infrastructure. This means electrical power, water supply and sewage and gas supply where this is possible. The Russian Federal Government is supporting the NCRC by earmarking $2 billion for the region‟s primary infrastructure, which will be part-financed by the private sector. The Treasury is also offering sovereign guarantees of up to 70% on investments in public debt instruments that will support private investment in commercial projects such as hotels, restaurants, entertainment and sports facilities. The Caucasus‟ unique climate offers a 240-day ski season in some areas, and there are many areas of outstanding natural beauty, with a UNESCO World Heritage Centre in the west of the region, and Mount Elbrus - at 5,642 metres, the highest peak in Europe and Eurasia. At Arhyz in Karachai-Circassia, construction work on the new resorts began in January this year, and the main sites are set for completion by the start of the 2012 ski season. The existing village of Arhyz is being upgraded, while two new villages are being built, which will make this the largest of the NCRC resorts, capable of hosting up to 45,000 visitors a day. write your comments about the article :: © 2011 Construction News :: home page |