Abkhazia: $300m Windfall Expected From 2014 Sochi Winter Olympic Games
Below is an article published by Civil Georgia:
Abkhazia expects at least USD 300 million of Russian investments as a result of the region’s involvement in preparations for the 2014 Sochi Winter Olympic Games, Sergey Bagapsh, the Abkhaz leader, said.
“In Tkvarcheli, for example, a cement producing plant will be built; a tender has already been announced,” Interfax news agency quoted Bagapsh as saying on April 8. “It will attract about USD 180 million investments. Another one will be built in Ochamchire, near the port. I think we will attract a total of USD 300-350 million investments.”
He did not rule out resumption of operation of the Sokhumi airport and also said that the Abkhaz side planned to increase capacity of the border-crossing point with Russia.