Support The Moscow Times!

Skiing Developer Eyes Listing

A Russian-French joint venture building ski resorts in the North Caucasus before the 2014 Sochi Olympics plans a listing in Hong Kong in 2015, its head Ahmed Bilalov said.

Caisse des Depots et Consignations, the French state-owned bank, agreed last year to partner with Russia's state-run North Caucasus Resorts to attract investors. The joint venture hopes to sign 1 billion euros ($1.3 billion) of investments later this year, Bilalov said Wednesday.

The Russian government will spend 60 billion rubles ($2.01 billion) on transport and utilities infrastructure, according to a statement Wednesday. Private business will finance the resort infrastructure. The North Caucasus area includes Chechnya, Ingushetia and Dagestan.


Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.