OREANDA-NEWS. December 17, 2009. Moscow is to invest over half a billion roubles (~USD 16.7 million) in the ski resort development in Dombay, the Karachai-Cherkess Republic.

“We have arranged that Moscow will build a good ski resort in Dombay,” Mayor Yuri Luzhkov said on December 12 during a visit to Moscow’s Yuzhnyy agricultural plant located in the Karachai-Cherkess Republic.

According to the official, the issue of siting is currently being decided.

It is expected to develop a hotel having roughly 10,000 square metres in area, ski lifts and the entire infrastructure of the ski resort.

Mr Luzhkov added that an amount of investment in the development was expected to be 600-700 million roubles (USD 20-23 million).