Russian investor injects $3,5m in Polar eco-friendly hotels

Russian investor injects $3,5m in Polar eco-friendly hotels
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Kedr Plus, a Russian company, intends to invest about 200 million rubles ($3,5 million) in the construction of two eco-friendly hotels in the Murmansk region of Russia, director general of JSC Corporation of Development of Murmansk Region, Aleksei Baryshkin told reporters on Thursday.

“The investor places 129,1 million rubles in eco-friendly hotel in Teriberka and between 60 million and 70 million rubles in modernization (of the former recreation center – editor note) in Umba. That is why we state that the investment will amount to about 200 million rubles”, – Aleksei Baryshkin said at a press conference.

Eco-friendly hotel in Teriberka is scheduled to be commissioned this year. After modernization of the former recreation complex in Umba, the number of beds is expected to increase from 40 to 80.