Joint-Stock Company Northern Caucasus Resorts (JSC NCR) was incorporated pursuant to the Decree of the Russian Federation Government dated October 14, 2010, No. 833, to manage the tourism and recreational special economic zones in the North Caucasus Federal District (tourist cluster).

Currently, the tourism cluster project managed by JSC NCR includes five all-season tourism and recreation complexes, where the six all-season tourism and recreational complexes and one coastal cluster are being created.

Oleg Gorchev

Director General of JSC NCR

The tourism cluster project in the North Caucasus Federal District was started in 2010 by the Russian Federation Government. Over the past five years, a considerable amount of preparatory work has been done: special economic zones of tourism and recreation type were created, land and property issues were settled, the company has developed the brand of Northern Caucasus Resorts and started to promote it in the Russian and international tourism markets, and, owing to the effective use of public-private partnership mechanism, the favorable investment climate was created. However, the main result of this work was the design, construction and commissioning of new ski resorts which already generate multi-thousand tourist flow and steadily gain popularity among Russian mountain ski and snowboard fans.
In the coming years, JSC Northern Caucasus Resorts, as the management company, will perform tasks on the construction of the ski, engineering and transport infrastructure at recreational sites of the project, thus creating “growth points” which will include all seasons resorts attractive both for tourists and investors. Their successful development, the key factor of which should be the active involvement of private investors in the project and raising extrabudgetary funds, will be the main factor for the formation of the North Caucasus competitive tourism industry and, accordingly, the socio-economic modernisation in the region as a whole.

At present the project of the tourism cluster under the management of JSC "CSC" includes the following all-season tourism and recreation complexes:

  • Mission

    The mission of JSC NCR is to create conditions for socio-economic development of the North Caucasus Federal through effective management of special economic zones and implementation of an integrated infrastructure business project in the tourism sector, based on the principles of sustainable use of natural resources, economic efficiency, promotion of sport and healthy lifestyle.


    The purpose of JSC NCR is the implementation on the territory of the North Caucasus Federal District of integrated infrastructure business project in tourism, aiming at creation and development of the tourism cluster.

  • Objectives of JSC NCR:

    • Establishment and proper maintenance of the infrastructure needed necessary for the operation of SEZs in the tourism cluster;
    • Using the international ski and tourism infrastructure creation practices and integration of advanced technologies;
    • Optimisation of public participation in the project by increasing the amount of attracted extra-budget investment and reaching investment attractiveness of the tourism cluster resorts and, consequently, self-repayment;
    • Implementation of the media strategy to promote the project in the internal and external information spaces and creation of positive environment in the regions of the project.
  • Structure

    The basic principle of JSC NCR system of corporate governance is the transparency and clarity of all internal processes for investors and partners.

    Currently, in accordance with the Charter of the Company, the management bodies of JSC NCR are:

    • The General Meeting of Shareholders;
    • The Board of Directors;
    • The Collegial Executive Body (Management Board);
    • The Sole Executive Body (Director General).

    The main shareholder of Joint-Stock Company Northern Caucasus Resorts is the state represented by Special Economic Zones JSC. Also, the list of founders includes the largest banks of the country: Sberbank of Russia OJSC and Vnesheconombank.

  • Project Partners

    • POMA (France) is a leading global manufacturer of ropeway components.
    • Sinara Group CJSC is a diversified company that unites enterprises of various sectors, the principal investor of Arkhyz ATRC.
    • AECOM (US) is a world leader providing engineering and management services.
    • Compagnie des Alpes (France) is the management company of the world's ski resorts.
    • Rosеngineering CJSC is one of the leading companies in Russia ERSM.
    • Russian Mountaineering Association.
    • Sberbank of Russia PC.
    • Russian Institute for Urban Planning and Investment Development (Giprogor) OJSC is one of the oldest design contractors in Russia.
    • North-Caucasus Federal University
    • Russian International Olympic University - the leading University in NCFD.
    • Sochi State University.
    • Kabardino-Balkarian State University named after Kh.M. Berbekov
    • Karachay-Circassian State University named after U.D. Aliyev.