Tourism.RF Board of Directors approves corporation’s capital participation in 53 investment projects
21 December 2021
Tourism.RF press service
Tourism.RF Board of Directors approves corporation’s capital participation in 53 investment projects
The Board of Directors of the Tourism.RF Corporation has approved the corporation’s investment programme of 36.5 billion roubles. The programme will provide funding for the infrastructure worth 390 billion roubles in total.

The board meeting was attended by Russian Deputy Prime Minister Dmitry Chernyshenko, Minister of Construction, Housing and Utilities Irek Faizullin, Deputy Finance Minister Pavel Kadochnikov, Deputy Minister of Economic Development Sergei Galkin, Head of the Federal Agency for State Property Management Vadim Yakovenko, Deputy Head of Deputy Prime Minister Dmitry Chernyshenko’s Secretariat Natalya Parshikova, Governor of the Kamchatka Territory Vladimir Solodov, and Head of the Republic of Adygeya Murat Kumpilov. The meeting agenda also included presentations on comprehensive master plans for resorts in Adygeya and Kamchatka developed by the corporation.

“Today the Board of Directors of Tourism.RF Corporation approved the launch of 53 investment projects starting next year. I reported on these projects to the President last week. Thanks to these projects, affordable resorts will be built in 27 Russian regions, providing 15,000 new jobs and increasing total tourist traffic by 10.5 million people,” Dmitry Chernyshenko commented.
The corporation plans to invest 36.5 billion roubles in building tourist facilities worth almost 390 billion in total. The corporation has already received around 17.9 billion of the funds to be invested.

The corporation will support the projects by contributing to the capital of specialised project companies and supporting investors until the project is launched. The corporation plans to sell its share afterwards at market rates and reinvest the money in other projects.

Quality accommodations will be built around Lake Baikal and in Altai, the Krasnodar and Perm territories, in Sheregesh, Adygeya and Kamchatka, as well as many other regions that the corporation has signed agreements with, according to the deputy prime minister, who is in charge of this programme.

“I want to stress that these 53 projects, selected from 400 submissions, are the most comprehensive ones. They will create new jobs, boost GRP and the regional economies in general. At least ten tourist locations with accommodations for 2,500 people will be opened in 2022–2023. We plan to build 21,000 hotel rooms across all of these projects.  The corporation has raised 10 roubles in private investment for each rouble of state funds. This is an excellent ratio. It is important that the state funds to support businesses can be earned back. As the projects get started, the corporation will reinvest the money in other projects in popular locations. Under the Tourism and Hospitality Industry National Project, we will create conditions that will double the number of trips around Russia to 140 million per year, by 2030,” Dmitry Chernyshenko noted.

“The Government has already invested 17.9 billion roubles in the registered capital of companies. We will invest these funds into specialised project companies that will be responsible for completing the first 53 projects by early 2022. Geographically, these projects span from Altai to the Voronezh Region, from Lake Baikal to the Tula Region, Kamchatka and other regions that are trying to develop infrastructure. I want to say that the window of opportunity is open for investors and we will expand the investment programme in 2022 and subsequent years to achieve the performance indicators under the national project,” Tourism.RF General Director Sergey Sukhanov said.

During the planning phase of the national project, the corporation has developed a list of supporting infrastructure facilities for the next three years and submitted it to the Ministry of Construction, Housing and Utilities. In 2022 alone, some 12 billion roubles will be spent on building road connections to the new tourist facilities as well as utilities.
“Notably, today we have approved a master plan for Three Volcanoes, a flagship project in the Kamchatka Territory. It covers an extensive territory between the Mutnovsky, Vilyuchinsky and Gorely volcanoes. The new infrastructure, including roads, water and electricity lines, will create conditions for attracting significant investment. The project will create 1,000 hotel rooms, 30 km of alpine skiing tracks, a chair lift to the top of a volcano, piers for cruise ships and other surface infrastructure facilities,” Vladimir Solodov said.

The Tourism.RF Corporation was established at the instruction of Russian Prime Minister Mikhail Mishustin to attract investment into new tourist facilities by reducing the investment and loan burden on tourist projects. The corporation also allocates money to fund the development of master plans for tourist areas that should help adopt a system approach to the construction of tourist infrastructure based on several factors including economic, social, and environmental factors.