Karachay-Cherkessian leader discusses investment project with Armani

The leader of Karachay-Cherkessia, Boris Ebzeyev, has met a well-known
Italian architect Angelo Villa on February 9. The architect represent
the POP Group and plans to construct the Armani Hotels Caucasus,
Yuga.ru reports.

Giorgio Armani S.p.A. announced its plan to build the hotel in January
2010. Armani Group later denied the information.

Villa told Ebzeyev that the POP Group is a structural subdivision of
the ARMANI-ROR. It plans to construct an elite hotel complex
consisting of 3-4 residence hotels with a total of 100 rooms in
various parts of the region.

Armani POP has already had preliminary discussions of the plans with
the structures of Alexander Khloponin, Russian Vice-Premier and
authorized presidential envoy to the North Caucasian Federal District.

Boris Ebzeyev said that the republic is ready to cooperate with the
Italian company. Investors are being supported and provided with tax
relieves. He told the guests about the investment-attractiveness of
Karachay-Cherkessia.

The Italian guest said that they plan to discuss the construction
sites. He said that they will stress on ecological and ethnographic
tourism and on the beneficial natural factors for health.

The owner and the head of the POP Group Oleg Ryzhkov said earlier that
Armani Hotels Caucasus investment project will be presented at a real
estate exhibition in Cannes on March 8-11.