Costs for Caspian cluster development in Dagestan may amount to 76 billion rubles

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The total volume of investments in development of the Caspian coastal cluster in Dagestan will amount to 76 billion rubles, Andrey Yumshanov, Director General of Kavkaz.RF says. Of the total amount, 12 billion rubles are regional budget funds and 64 billion rubles are extra-budgetary investments. AS to Yumshanov the project completion is scheduled for 2030.

"The cluster will provide 13 thousand places of accommodation and provide jobs for more than 7 thousand people. We expect approx. 450 thousand tourists per year to visit the Caspian Sea. For now, ten potential investors are ready to join the project realization" Yumshanov is quoted as saying.

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