Until 2020, NCR OJSC will invest 6 billion rubles in development of the special economic zone “Elbrus-Bezenghi” in the area of Mount Elbrus. Approximately 3 billion rubles out of them will be made by the funds fr om the budget of the Company; the second part of investment is planned to be attracted through debt financing. NCR OJSC plans were announced by Director General Oleg Gorchev during the works meeting with Yuri Kokov, Head of the Kabardino-Balkaria, held on June 3 in Nalchik.

At the meeting, it was also noted that the current year the Company is planning to construction and launch, by the ski season of 2015/2016, the 3 stage of cableway “Station Mir” - “Station Gara-Bashi”, to design the snowmaking system and lighting, improve and enlarge the ski area.

“The Republic will provide full support to NCR OJSC”, said the Head of the Republic, “But it is necessary to develop a step-by-step action plan, a “roadmap” identifying the list and deadlines for commissioning infrastructure facilities”. He also commissioned the Government of Kabardino-Balkaria to create, jointly with NCR OJSC, a working group to solve the actual problems.

A day earlier, there was a working meeting of NCR OJSC management with Rashid Temrezov, Head of the Karachay-Cherkess Republic, and Alexander Ivanov, Speaker of the Republican Parliament, wh ere the parties addressed the issues of interaction within the framework of implementation of the project of Arkhyz construction and the plans to organise the summer season at the resort.

Rashid Temrezov stressed that when planning and organising summer vacation, the full security must be ensured, and also he reminded of the need to take into account the comments and suggestions expressed by the guests of the resort, following the results of the winter season. Special attention was drawn by the Head of the Republic to the need to minimize possible inconveniences to tourists connected with construction of the hotel and ski infrastructure of Arkhyz resort.