OREANDA-NEWS. October 25, 2011. OJSC " North Caucasian Resorts " has preliminarily agreed with Azerbaijan on creation of common tourism cluster.
The OJSC reports that chairman of Director Board of " North Caucasian Resorts " Ahmed Bilalov has agreed with first prime minister of Azerbaijan Yagub Eyybov and Youth and Sport Minister Azad Rahimov about sending Azerbaijani governmental delegation to Dagestan for studying North Caucasian tourism cluster’s development projects and in particular, Caspian coast resorts and their investment opportunities. Besides opportunities of both countries’ integration in development of Caspian coast’s tourism potential were discussed.

"Azerbaijan and Dagestan are very close in spirit and culture and have both mutual interest and all prerequisites for integration",- Deputy CEO of OJSC Yuri Tirtishov said.
Earlier OJSC signed an agreement with state French holding " Cas de depo a Consignacion " on creation of joint venture with 10 million euro equity capital , 51% of which is OJSC’s and 49%- the French side’s share. In thed next 10 years the company will build 5 new world-class ski resorts : Lagonaki( Adygeya ), Arkhiz ( Karachayevo- Cherkess) , Elbrus Bezengi (Kabardino – Balkaria) , Mamison (North Osetia) and Matlas (Dagestan).
Main investor of OJSC is Dagestan billionaire Suleyman Kerimov.