The Northern Caucasus Resorts said that Dagestani billionaire Suleyman Kerimov and Ingush businessman Ahmet Polonkoyev plan to invest 70 billion rubles. Their investments will allow the tourism cluster to expand by merging the Dagestani coast of the Caspian Sea and mountain areas of Ingushetia, RIA Dagestan reports.
CEO of the Northern Caucasus Resorts, Ahmed Bilalov, added that the Caspian coast in Dagestan would be a good replacement for Tunisia and Egypt for Russian tourists. The resort would operate all-year round, offering skiing in winter and beach recreation in summer. Millions of people will visit the resorts of Dagestan annually by 2025, Bilalov reckons.
The Federal Service for Financial Markets has registered an additional release of documentless shares of the Northern Caucasus Resorts worth a total of 55 billion rubles. 55 million shares worth 1,000 rubles each will be released. Such decision was passed by shareholders of the Northern Caucasus Resorts on October 19, 2011.
