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Funicular railway in Arkhyz to open March

The total investment in this tourist area, according to preliminary estimates, will exceed 80 billion roubles

MOSCOW, February 19 (Itar-Tass) —— Official opening of the first part of the first funicular railway at the all-season mountain resort Arkhyz is scheduled for early March of the current year, press service of Resorts of the North Caucasus Company told Itar-Tass.

A recent test launch of the first 900 meters of the cable railway and subsequent technical inspection showed that the lift and four kilometres of ski routs made in accordance with European standards are fully ready to serve tourists.

The Arkhyz resort in Karachay-Cherkessia will build 263 kilometres of slopes of different difficulty levels, which will have 54 lifts. It will have hotels, cottages and apartments of different star ratings, which will be able to accommodate 24,000 tourists. After reaching its full capacity Arkhyz will be able to serve up to 45,000 visitors daily.

Construction of the Arkhyz all-season mountain resort is done jointly by the Resorts of the North Caucasus and Arkhyz-1650, a subsidiary of the Group of Sinara. Under the agreement, signed on November 17, 2011 in Cherkessk, the Arkhyz-1650 company will invest in the construction of hotels, residential and commercial real estate resort, and the Resorts of the North Caucasus- in infrastructure components of the complex.

The total investment in this tourist area, according to preliminary estimates, will exceed 80 billion roubles.

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