Elbrus resort to receive almost 40 bln rubles in private investment - Kavkaz.RF

NALCHIK. March 4 (Interfax) - Residents of the Elbrus Special Economic Zone will invest 39 billion rubles in the modernization of the tourism infrastructure of the mountain resort area in Kabardino-Balkaria, Kavkaz.RF reported.

"Kavkaz.RF started the active modernization of the resort in 2023. The tourist flow increased 27% to over 700,000 people. [...] Residents of the SEZ will put up 39 billion rubles of private investment in the territory's development," the statement says.

Deputy Prime Minister Alexander Novak and Deputy Minister of Economic Development Sergei Nazarov inspected the new tourist infrastructure of the resort last weekend, which was built in 2023. This includes 6 km of ski slopes, a cable car, a fairground and parking for 800 cars.

Novak said that 2023 was a period of economic growth for the regions of the North Caucasus, including for the tourism sector.

"The number of residents has increased 3.5-fold, and the volume of declared investments in the territory (the North Caucasian Federal District] has increased sixfold. Two new mountain resorts are being built, Veduchi and Mamison, while the first sea resort on the Caspian is in the pre-design stage," the Deputy Prime Minister said.

The Elbrus all-season mountain resort is located on the southern slopes of Mount Elbrus in the territory of the Elbrus Natural Park in Kabardino-Balkaria. The resort has about 23 km of slopes of varying difficulty and a network of ski lifts.