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30.03.2009

Krasnodar Region presented 1400 investment proposals at Cannes. The Region’s display covered an area of 525 square metres

The Kuban presented 14 models of the largest regional projects to potential partners, including: Olympic Sochi; the capital of the Region, Krasnodar; the Azov City gaming zone; and the Azov and Black Sea coastline in the Region.

Within the framework of the exhibition under the chairmanship of the Deputy Chair of the Government of the Russian Federation Dmitrii Kozak a press conference Presentation of Sochi 2014: investment opportunities was held, in which the Head of Krasnodar Region Alexander Tkachev and the President of the Olimpstroi state corporation, Viktor Kolodyazhnii took part.

More than €1.8 billion was the value of agreements Kuban delegation concluded with investors at the MIPIM 2009 international exhibition in Cannes.

The demand was traditionally high for Krasnodar Region investment projects in the spheres of commercial and residential real estate, construction of residential accommodation, high class hotels, resort and recreation facilities, shopping and entertainment centres, sea ports, and logistics facilities.

Representatives of foreign business and political circles including Italy, Germany, Portugal, Slovakia and Montenegro, and also a whole range of international organisations expressed their readiness to work with Krasnodar Region in realising investment projects in various fields of our region's economy.

As a result of negotiations with representatives of major foreign companies Krasnodar Region signed nine investment agreements.

Amongst the largest was the agreement with the Portuguese Imorbi II-Investimentos Imobiliarios SA company, which intends to build the Karavella Portugaliya residential and recreation complex in Sochi, which will include a 350 room hotel with restaurants, a lobby bar, a club and a seasonal pool bar, as well as a conference hall, a business centre, a spa, fitness centres, outdoor swimming pool and a 100 place car park, as well as three 25 storey blocks of flats. Realisation of this project will mean creation of approximately 4000 extra jobs.

The Donivest company concluded an agreement on reconstruction and creation of coastal infrastructure of 15 sea terminals in Sochi. Realisation of this project will make it possible to reestablish local passenger sea routes, which in its turn will create extra comfort for holidaymaker, and as a consequence visitors to the 2014 Olympics.

An agreement was also concluded with the German IBS InterBauSystem GmbH company on reconstruction of the central part of Krasnodar. Realisation of the project proposes construction of residential accommodation and multi-storey car parks on an area of 12.8 hectares.

Business partners of Krasnodar Region announced their readiness to invest in construction of logistics facilities in our region. Thus, the Russian IPP company intends to undertake the design and construction of an fuel oil transshipping terminal in Novorossiisk with a capacity of not less than 3 million tons of freight a year.

At the MIPIM 2009 exhibition a range of agreements in the sphere of socio-economic development of Krasnodar Region was also signed. Thus, the International Bank of Reconstruction and Development announced its readiness to cooperate in the field of socio-economic development of the region. And an agreement was concluded with one of the largest consulting and auditing companies in the world, PriceWaterhouseCoopers Russia BV, on cooperation in the sphere of raising the investment attractiveness and competitiveness of Kuban businesses in the finance and real sectors of the economy.

32 agreements with Russian and foreign investors were concluded at MIPIM 2009 by local authorities and specialised Departments of Krasnodar Region.

Great interest was shown by business partners in reconstruction of the central part of the capital of the Kuban, Krasnodar. Thus, the Russian Grad-Stroi-Plus company and the German Blivernec Automobile company are prepared to jointly take part in this project.

Large companies are also ready to invest in a whole range of large scale projects in the resort towns of the Kuban. As a result of agreements concluded with large investors new resort and recreation facilities, shopping and entertainment centres, and hotels will appear in Sochi, Anapa and Gelendzhik.

Business partners are ready to direct resourced to construction of modern residential districts and housing estates in the towns and districts of the Region.

Investors intend to make serious investments also in development of such important for our region fields of the economy as transport and energy. Thus as a result of concluded agreements a facility for transshipping of chemical cargos with a turnover of 413 000 tons a year will be built in Temryuk port. And in the western part of this port a universal transshipping facility with a turnover of 1.9 million tons per years will be built.

Investors also expressed their readiness to invest resources in modernisation of the energy sector in Tuapsinskii District in our region.

Further information can be found at www.mipim-kuban.com and www.mipim.com

Department of External Economic Activity of the Krasnodar Region