Flame Group (UK) for development of Kabardino-Balkaria does not compete with the North Caucasus Resorts, Vice Premier of the republic Valery Zhilov said at a meeting with the British consortium at Terskol of Trans-Elbrus, ITAR-TASS reports.
Prometheus Flame is under construction at Tyrnyauz at the Shkhay-Ty Plateau at an altitude of 1520 m. Kabardino-Balkarian Minister for Sports and Resorts Aslan Afaunov called it the optimal height for Olympic sports. Two Russian Greek-Roman wrestling teams training there won 8 gold medals.
Yuri Kuznetsov, Managing Director of Flame Group said that the 35-storey building there is worth about 610 million euros. Construction will start next year and will take 2.5 to 3 years. Flame Group is realizing the Grand Caucasus – Olympic Region project.
A high-speed monorail line Mineralniye Vody-Elbrus-Sukhum through the Baksan Gorge and Klukhorsky Gorge will reduce the distance between Sukhumi and Nalchik by 700 km and form a transport network for the Mineralniye Vody Airport. Alexander Filatov, Vice President of the Sport Fund, presented the program of Flame Group for development of highlands of Kabardino-Balkaria.
An international airport with a runway 4,200 meters long is planned to be built in Kabardino-Balkaria. It will help transport 5 million passengers annually. A highway will be built to reduce the distance between Sochi and the Elbrus Resort to 250 km.
Minister for Economic Development Aliy Musukov said that a railway will be built to give access to Prokhladnaya Station from Tyrnyauz at the Baksan Gorge.
Flame Group says that the initiative would cost a total of 25 billion euros. Skiing routes will exceed 800 km. Hotels will have rooms for 40,000 people. About 15,000 jobs will be created.
