Siberia | Tourism, recreation | Finance, business

Alemar gets $73.3 Sberbank credit line for ski resort

15 Aug '08
Moscow-based investment and financial corporation Alemar is opening a $73.3 line of credit with RF Sberbank's Altay office, sources in the bank report.

The borrowed funds will be used to build the first $106m stage of a $407.4m Manzherok all-season skiing resort in Altay.

The complex's total acreage is expected to be 900 hectares. Plans stipulate construction of 32 ski trails covered with artificial snow. A total length of all ski trails is to be 60 kilometers, while the altitude difference will be 820 meters.

The complex will also have 15 cable cars and a hotel complex for 4,500 guests.

It is expected that by December this year Alemar will have built a few ski trails and three cable cars. In spring 2009 a service-center, hotel complex, park-hotel, sports equipment rental center, sports grounds and a restaurant are to be commissioned with a new beach area.
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
COMMENT ON THIS STORY
Find Related Content

Locations: Altai

Latest News: Siberia
17 May '17 | Transport, logistics | Technology & innovation
10 May '17 | Technology & innovation
2 May '17 | Farming, agriculture | Technology & innovation
 

Feature stories

17 May '17
Russian biologists and biophysicists are said to have...
21 Apr '17
6 Mar '17
Developing a photonic computer, a technology that...
Search (News archive - 21087)
Advertising
RB_Partners_Venture_Report2016
Advertising
Why Russians do not smile
Advertising
Nano & Giga Symposium
Advertising
UNN

Latest News

27 May '17
Russia rose in a global ranking that assesses...
25 May '17
Russian scientists in partnership with their Korean...
24 May '17
Browser developers in Russia will soon be obligated...

Most read stories from last week

25 May '17
Russian scientists in partnership with their Korean...
27 May '17
Russia rose in a global ranking that assesses...