The Resorts of the North Caucasus State Corporation and Suprema Associates (Singapore) have signed a deal on realization of the North Caucasus tourism cluster, RIA Dagestan reports.
The document was signed at the international exhibition of real estate 'MIPIM Asia 2011' in Hong Kong. Suprema Associates wants to invest $1 billion in the project.
CEO of the state corporation, Alexey Nevsky, says that Asian investments in the project are the right step.
Suprema Associates head Ravi Visvanatan noted that the recreation potential of the Caucasus and institutional benefits are attractive.
European investors are showing interest in the project as well. The 10th International Investment Forum Sochi-2011 saw the signing of a deal on formation of a joint venture with France’s France-Caucase (a subsidiary of Caisse des Depots et Consignations) in the presence of Russian Prime Minister Vladimir Putin. The charter capital is 10 million euro. The Resorts of the north Caucasus, Korea Western Power and CHT Korea signed a deal on investments and formation of a joint venture at the 2nd Forum “Dialogue Russia- the Korean Republic” on November 2. Korea will invest $1 billion in Russian energy.
