Foreign companies to invest 60 billion rubles in Resorts of the North Caucasus

The "Resorts of the North Caucasus" (RNC) have attracted 60 billion rubles of investments from French and Korean companies in addition to 5 billion rubles of budget funding, ITAR-TASS reports.

The RNC have stated on their official Facebook page that their official website demonstrates all the necessary documents indicating that, after receiving 5 billion rubles from the state budget, the managers of the RNC attracted 60 billion rubles from French and Korean companies and created a joint venture with mixed managements.

In addition, RNC said that the French had declared their intention to invest up to 20 billion euros in the Caucasian Resorts until 2019.

At the same time, the RNC explained, the money from the foreign investors is not loans, but direct investments.