German, UK investors join N Caucasus tourist cluster project

PYATIGORSK, September 18 (Itar-Tass) -- German and British investors
have joined the project for the North Caucasus tourism cluster, press
service of the state company Resorts of the North Caucasus said on
Saturday.
An Anglo-German consortium Astor Capital and Drees and Sommer," signed
a letter of intenttion on cooperation in investment with the Resorts of
the North Caucasus Company/RNC/.
The parties intend to develop cooperation in implementation of
construction projects for the Lagonaki ski resort, which is located in the
territory of the Absheron District of the Krasnodar Territory and in
Adygeya's Maikop District, and the Mamison ski resort located in Alagir
and Iraf districts of the Republic of North Ossetia-Alaniya.
The sides organise working groups, which will coordinate development
of interaction and joint participation in the project. Financial and
organisational aspects of the projects will become subjects of separate
agreements.
An item in the signed document is devoted to the an intention to
develop the tourism cluster project in accordance with best international
standards, trying to minimise and balance interference in the environment
and biodiversity. In view of the unique natural and cultural heritage of
the North Caucasus Mountains, the sides will fully integrate this
principle into the concept, implementation and project management.
The consortium brings together two resources - financial opportunities
of Astor Capital Group and engineering capabilities of Drees and Sommer,
the consortium's President Michael Lubenets told reporters.
"We are at the initial stage of research of the North Caucasus tourism
cluster's project, but we can see its huge potential already, and we hope
to reach soon the level of interaction that has been achieved between
Resorts of the North Caucasus and France's corporation Caisse des Depots
et Consignations."
Consortium Astor Capital and Drees and Sommer has extensive experience
in investment and development activities and it is a leading
English-German holding company which is active in infrastructure projects,
construction of ski resorts, as well as comprehensive project management.