Chinese companies intend to invest up to 3 billion US dollars in resorts of Northern Caucasus

Agreement between Joint-Stock Company (JSC) "Resorts of Northern Caucasus" and "Dalian Vanda Group Co. Ltd", signed today in Beijing, stipulates investments of up to 3 billion US dollars in development of resorts in Northern Caucasus.

Akhmed Bilalov, Deputy Chairman of the Committee for Foreign Affairs of the Federation Council, Chairman of the Board of Directors of the Russian company, has reported that estimated amount of investment of the Chinese companies will reach, according to the document, 2.5-3 billion US dollars.

Earlier, the representative delegation led by the presidents of the corporations, visited sites of the projected North-Caucasian tourism cluster in the Republic of Dagestan and the Krasnodar Territory. Numerous attractions of Derbent, one of the oldest cities of Russia, attracted much attention of the Chinese businessmen, the "ITAR-TASS" reports.

According to Alexander Radkov, the head of the "Rosturizm" (Russian Federal Tourism Agency), in Beijing, the "Rosturizm" and the State Administration of Tourism in China have also signed a framework agreement on cooperation.

"The document defines the strategic directions of our cooperation in the near future. Main goal that we set is to increase tourist flows by more than 30 percent," the "Gazeta.Ru" quotes Alexander Radkov as saying, with reference to the "Interfax".