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
1 Oct '14 | Technology & innovation
30 Sep '14 | Industry, manufacturing | Technology & innovation
25 Sep '14 | Technology & innovation | Industry, manufacturing
23 Sep '14 | Energy, utilities | Technology & innovation
19 Sep '14 | Tourism, recreation | Technology & innovation
 
Search (News archive - 18844)
Russian Venture Capital Market Overview

Latest News

1 Oct '14
Researchers at St. Petersburg’s ITMO have created a...
1 Oct '14
Kemerovo scientists in Siberia have developed contact...
30 Sep '14
UC RusAl, a major global aluminum producer, has...

Most read stories from last week

29 Sep '14
China and Russia have been in talks over ways of...
29 Sep '14
A new antiviral drug called “Triasavirin” is expected...
30 Sep '14
FRII, a Russian government-owned fund, and Microsoft...