Dagestan to invest RUB 374 billion in Caspian cluster

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Dagestan authorities intend to spend about RUB 374 billion over 6 years on implementation of the Caspian Cluster project. The project will receive funding in the amount of RUB 374 billion until 2030. It has been reported that, within the framework of the new tourism development project, plans are underway to construct several complexes.

It is specified that the majority of funds will not be received from the regional budget. According to the data provided by the regional Ministry of Tourism, 317 billion rubles will be accumulated by investors.

It is planned to create the following tourist and recreational complexes: "Inche Marina Caspian", "Caspian", "Ecoland", "Golden Sands", "Sardar-Primorsky" and "Kpul-Yatar". The construction of a new microdistrict called "Azure Coast" is also part of these plans. The construction of these tourist projects is being carried out within the framework of Derbent's Action Plan for Integrated Development until 2025. More than 7 billion rubles have already been invested in the realization of these projects, with more than 2 billion coming from investors. 307 jobs are expected to appear in the region thanks to the Caspian cluster project implementation.

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