Austria to invest in North Caucasus resorts

Six Austrian companies plan to take part in the construction and
design of ski resorts in the North Caucasus, RIA Novosti reports.

A deal was signed at the forum on 5 resort projects of the North
Caucasus in Vienna.

The Resorts of the North Caucasus Company presented an extended
version of the tourism cluster project. Besides resorts in the North
Caucasus Federal District, Adygeya and Krasnodar Territory, the
company will develop coastal areas and the Kavkazskiye Mineralniye
Vody region.

Officials from over 80 European companies invited to Austria and the
Resorts of the North Caucasus Company were at the meeting.

The North Caucasus plans to construct 803 km of ski routes and 104,500
tourist rooms. The ski routes are worth 96.6 billion rubles, resort
real estate – 294.8 billion rubles.