The French state bank "Caisse des Depots et Consignations" will invest 10 billion Euros in the company "Resorts of the North Caucasus" particularly in the construction of five ski resorts, newspaper Kommersant reports.
According to a source of the newspaper close to the Ministry of Economic Development, the company will be registered in the Netherlands under the title “Russian-French Corporation." 51% of the joint venture will be owned by the “Resorts of the North Caucasus" while 49% - by “France Caucase,” the subsidiary of the French bank.
The French bank is ready to finance the construction of resorts in the event of receiving the same tax benefits as the residents of special economic zones, as well as governmental guarantees of the Ministry of Finance and participation of the French real estate developers and contractors in the construction.
French bank to finance construction of North Caucasian resorts
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