Azerbaijan, Baku, Sept. 30 / Trend U.Ismayilova/
The Azerbaijani government intends to attract foreign investors for the construction of summer and winter tourist complex "Shahdag", which is estimated at €2 billion, Culture and Tourism Minister, Abulfaz Garayev, said.
"The government will provide 25 percent of expenses on the construction and the private sector-75 percent," the minister said.
According to Garayev, the government will begin to draw investors in 2010.
The construction of the first hotels has been launched and the plan is under development, Garayev said. The general contractor has been defined.
The international investors' capital will be attracted to create a service infrastructure, Garayev added.
"Nevertheless, the attracted investors will not be able to go beyond the designed project," Garayev said.
The minister believes the public funds invested in the construction of winter recreation zone "Shahdag", will reimburse in 7-10 years. The complex will open 5,000 new jobs.
Garayev said a unified management system will be established in the Shahdag complex for the first time in Azerbaijan.
The construction work, including the construction of the complex's central square, two major lift stations, eight lifts and internal roads infrastructure, installing equipment to produce artificial snow and creation of infrastructure system of the complex is expected to end in 2011, the minister said earlier.
The summer-winter tourist complex "Shahdag", which will be built in Azerbaijan's Gusar region, will consist of four-star hotel for 340 places, the elevator base, restaurant, ski school, ski-lifts and artificial ice system.
Specialists from Austria, Germany and Switzerland are involved in designing the project.
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