Korean investors see big prospects in Mamison and Arkhyz

Korea’s Hyundai Development Company, Dohwa Engineering, Korea Western Power and others have visited the recreation complexes of Mamison (North Ossetia) and Arkhyz (Karachay-Cherkessia), invited by Eurasia Energy Holdings, a press release of the Northern Caucasus Resorts says.

Mun Insok of Hyundai Engineering said that there were no energy problems in Mamison, the place will need heating facilities. Mamison is located 110 km away from the nearest airport and needs to solve transportation problems for tourists, the official believes.

The tourism cluster has great opportunities to give information about new resort zones in the North Caucasus within the framework of the Olympic Games in Sochi in 2014.

Korean businessmen say that the Arkhyz resort will become a successful place for family vacations, Mun Sanjin of Korea Western Power notes.

Commenting on cooperation of the Northern Caucasus Resorts and Korea Western Power, Sanjin called the project mutually beneficial.

Formation of a joint Russian-Korean venture was announced at the 10th International Investment Forum Sochi-2011. Russian Prime Minister Vladimir Putin attended signing of a cooperation deal. The Northern Caucasus Resorts, Korea Western Power and CHT Korea were the co-founders. Eurasia Energy Holdings PTE. LTD will build energy facilities for the tourism cluster. Korea will invest about $1 billion. 50% of the charter capital will belong to the Northern Caucasus Resorts, 40% to Korea Western Power, 10% to CHT Korea.

Adapted from vestnikkavkaza.net