Payback period for tourist complex "Matlas" is seven years - Abdulatipov

Makhachkala, July 16, 2015. The construction of the all-season tourist complex "Matlas" in Dagestan will increase tax revenues by 600 million rubles, head of the region Ramazan Abdulatipov said. "In August 2014, when the project was launched, the investor announced the volume of pre-investments totaling $ 100 million. The project realization period will last till 2018. The payback period, according to preliminary calculations, makes from five to seven years – in case the state provides aid in the form of state guarantees for tax incentives or the formation of a special economic zone" - Abdulatipov noted.

According to the Head of Dagestan said, the launch of the project will increase tax revenues up to 600 million rubles to all budgetary levels and create around 1,200 new jobs and increase the gross regional product worth 1 billion rubles by 2020.

Earlier, the Chairman of the Board of Directors of "Summa" said that about 200 million euros would be invested into the construction of the resort and recreational complex "Matlas". According to the holding experts, the complex will be located on the 200 hectares. The hotel infrastructure on the area of 16 thousand square meters consists of a medical center, conference center, spa and a variety of health improving institutions.