5 special economic areas may be created in Caucasus

Proposals for the organization of special economic areas (SEA) in the North Caucasus will be formulated by the end of the year. Project costs are estimated at 400 billion rubles, of which 60 billion will be paid by the government, the director of the department of special economic areas and project financing of the Economy Ministry, Dmitry Levchenkov, told journalists, RIA Novosti reports.
According to him, five SEA's might be created in five republics - Dagestan, Kabardino-Balkaria, Karachai-Cherkessia, North Ossetia and Adygea.