A meeting was held in Cherkessk on the construction of an all-seasons mountain ski resort Arkhyz there. The meeting was attended by Deputy Plenipotentiary Representative of Russian Federation President in North Caucasian Federal District Maxim Bystrov and head of Karachayevo-Cherkess Republic Rashid Temrezov. The head of Russia’s Regional Development Ministry’s Interregional Department in North Caucasian Federal District Alexei Ivanov, First Deputy Head of Karachayevo-Cherkess Government Ruslan Tambiyev, the Managing Director of North Caucasian Development Corporation Timur Charto, Vice President of Sinara Group Sergey Panin, and Arkhyz-Sinara’s Director-General Yuri Starkov contributed to the meeting as well, Sinara Group’s PR Department reports.

The meeting participants discussed the deadlines for commissioning the infrastructure facilities (the power transmission line, a natural gas pipeline, a highway, some filtering facilities, a supply conduit, a Department of Emergencies unit) and also considered the financing of the project.

Upon the completion of the meeting, all the visitors traveled to Arkhyz Ravine, where the first section of Romantik tourist resort is now being put up. At the moment, three hotels and a 860-meter ropeway are under construction; the ropeway will take the tourists to 1,770 meters above sea level. The buildings and the ropeway are expected to be launched as soon as by the start of the skiing season 2011/2012.

Now Sinara Group is taking out a loan from Russia’s Foreign Trade Bank in order to finance the construction of the skiing, hotel, and commercial facilities at the resort.