Italian Prime Minister Mario Monti arrived in Russia and met his counterpart Dmitry Medvedev. Monti praised the trade turnover between the two states, whcih has reached pre-economic crisis levels. Russian President Vladimir Putin and Monti will discuss bilateral cooperation in Sochi, fuel and energy and the Syrian problem, RIA Novosti reports.
Italy may take part in construction of a gas network from Russia to Europe through the Black Sea, the so-called South Stream project. Gazprom and Eni plan to make decisions in November and start construction in December 2012.
The prime ministers will discuss cooperation of Rosneft and Eni in development of the Black Sea and Barents Sea shelves. They signed related financial agreements on April 25, 2012.
Rizzani de Eccher co-owner Claudio de Eccher, who built the Balchug Plaza and Krylatiye Holmy, wants to invite up to €1 billion for hotel construction in the North Caucasus, Kommersant reports.
A related deal will be signed at the meeting of the Russian and Italian prime ministers on Monday.
Investors will be free from property taxes for 10 years and free from land taxes for five. The Finances Ministry would compensate loss of 70%, should acts of God occur.
The project for construction of 6 skiing resorts in Kabardino-Balkaria, North Ossetia, Adygeya, Karachay-Cherkessia, Dagestan, Ingushetia and the Caspian Sea was launched in 2010. Northern Caucasus Resorts is the company managing construction. 98% of its shares belong to Russia, 2% to VEB and Sberbank. The state company received 60 billion rubles for infrastructure development.
Rome will host Russian-Italian consultations in October. Russia will host the 12th session of the bilateral commission for economic cooperation.
