Winter ski resort to be built in Kuril Islands - press service

YUZHNO-SAKHALINSK, October 26. /TASS/. The project on development of an all-season mountain resort in Iturup, the Kuril Islands, is estimated at 24 bln rubles ($313.6 mln), press service of the government of the Sakhalin Region told reporters on Monday. Thirteen kilometers of pistes, a village to accommodate 700 tourists, a golf field, hot springs outfitting and development of all the required modern infrastructure are planned in the Kuril Islands, regional minister of investments Dmitry Lisnevsky said earlier. "The project value is estimated at 24 bln rubles ($313.6 mln), including 15 bln [rubles] ($196 mln) of private investments," the press service says. Investors are invited to participate in the project, the press service added. The resort will be located 32 km away from the Yasny Airport of Kurilsk City, regional authorities say. The internal rate of return for the project is about 20%. Starting and ending dates for the activities have not been determined yet because investors should be found at first. Read more