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.
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.
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 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.