Ski Resorts in Russia Announced
The Russian Government is to spend almost $15 billion (£9.5 billion) building five ski resorts in its North Caucasus region, according to reports. Russian daily business newspaper Kommersant reported that the Government would own approximately 98% of shares in North Caucasus Resorts company, which would build the resorts. It claims the skiing facilities will be built in the republics of Dagestan, North Ossetia, Karachay-Cherkess, Adygea and Kabardino-Balkaria, while President Dmitry Medvedev's administration would allocate $2 billion (£1.3 billion) to build roads and infrastructure around them. The Russian leader gave Presidential envoy to the North Caucasus, Alexander Khloponin, orders to make preparations for the project. In June, coordinator of a working group on the ambitious scheme, Akhmed Bilalov, revealed that ski resorts could significantly increase the flow of tourists to the region, which currently stands at around one million visitors per year.