Russian entrepreneurs invited to invest billions in Ukraine's Crimea

The Ministry of Economic Development proposed Russian entrepreneurs to invest in the Crimea. Russia's government sent a list of about thirty projects for investments to business organizations. The projects include ports, roads, hotels, factories for the production of halva, oil and so on. In total, about $ 5 billion is required for the restoration of the autonomous republic.

Several objects for investment are associated with the resort profile of the Crimea. For example, investors are invited to invest in the creation of tourist infrastructure of the old part of Feodosia, build a recreation and wellness center with apartments in Yevpatoria or upgrade the port in Alushta.

The most significant and costly infrastructure projects are the reconstruction of international motor road M-17 Cherson-Djankoi-Feodosia-Kerch ($1.4 billion) and a project to build and transport crossing across the Kerch Strait ($1.2 billion).

As the director of the Department of the Ministry of Economy for Cooperation with the Customs Union and Economic Cooperation with the CIS countries Alexander Tsybulsky said, the search for investors is not associated with the ongoing events in Ukraine. The work is being conducted within the scope of the agreement that was signed with Viktor Yanukovych in December.

During the talks on December 17, Presidents Vladimir Putin and Viktor Yanukovych agreed about a loan of $15 billion, discounts on gas and expansion of economic ties.