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Interros Wins Tender for Development ofa Site onRoza Khutor Plateau inKrasnaya Polyana

Developing Company Roza Khutor won the tender for the long-term lease ofland plots inSochi National Park, which will beused tobuild adownhill skiing resort.

The project isto becompleted inminimum 10years. Total sum ofinvestments isestimated at$100 million.

Roza Khutor, established byInterros Company, plans tocreate aworld- class skiing resort, which later will become part ofa tourist and sports complex Krasnaya Polyana.

According tothe General Agreement, signed inJuly 2003, Roza Khutor skiing resort will beconstructed with the support ofKrasnodar regions administration and the Russian Olympic Committee.

The new resort will improve the quality and expand the potential ofthe national tourism industry tomatch the most up-to-date requirements. Itwill contribute topopularization ofmass sports, tourism and leisure; training ofOlympic reserves; development ofsocial infrastructure ofKrasnodar region; creation ofnew jobs; attraction ofnew investors toKrasnodar region.

The unique ecological system ofKrasnaya Polyana will bepreserved bymodern environmental technologies.

The site area isabout 430hectares. The first stage ofthe Rosa Khutor skiing resort project will becompleted inthree years. The complex will cater for 3.500visitors per day.

The second and third stages will becompleted later, depending onthe demand growth. The complex then will beable toserve upto 7.110visitors per day.

The maximum service rate ofthe complex, when third stage iscompleted, will reach 9.500visitors per day.