The tourist and recreational special economic zone in the Karachay-Cherkess Republic, where All-Season Tourist and Recreational Resort Arkhyz is located, one more resident may appear. It shall be Arnest Group interested in the construction of a hotel complex in the resort. The project of the potential resident was presented to the management of the Ministry of the Northern Caucasus Affairs of the Russian Federation and Joint-Stock Company Northern Caucasus Resorts at the meeting on the development of Arkhyz ATRC, held today in Moscow and chaired by Odes Baysultanov, First Deputy Minister of the Russian Federation for Northern Caucasus Affairs.
‘This company has already proved itself as a reliable partner in the context of other strategic projects related to the implementation of the state program for the development of the Northern Caucasus Federal District, so I have no doubts about the commitment and reliability of future resident,’ Odes Baysultanov said following the project presentation.
According to the preliminary land use plan, already developed by the company, the construction shall be performed on two sites. The resident shall create a cottages resort for 180 beds, 12 cottages on each site (standard and superior), restaurant complex, sport and active recreation area, extreme park and walking areas. On one of the sites, 2 superior and 10 standard cottages shall be placed with a total capacity of 92 beds, on the other site – 4 superior and 8 standard cottages with a total capacity of 88 beds. The construction of the restaurant complex is also provided for on each site. 
‘We have a lot of experience in this project, we have long been planning it and really want to start the work as soon as possible. We consider these two sites as an integrated project. Rigorous calculations were made and we are ready to defend the resident project immediately after the Ministry of the North Caucasus Affairs of the Russian Federation starts to consider applications of potential residents of the SEZ,’ Andrey Burzak, Chairman of the Board of Directors of the National Aerosol Cluster, authorized representative of Arnest Group, said.
According to him, in the preliminary land use plan for the facility, loads in terms of capacity and cost estimates of the external and internal transport and engineering infrastructure are already calculated.
‘Estimated investment in the project by the investor is RUB 583 million. We have already prepared a provisional road map for joint action. After deciding on the primary issues, we are ready to move towards the implementation of the project, taking into account the interests of all parties involved,’ Khasan Timizhev, Deputy Director General of JSC NCR for strategic development, added.
At the meeting, the current status of the construction works on the ski infrastructure of Arkhyz ATRC was also discussed. The importance of meeting construction deadlines and timely commissioning of new facilities was emphasized.