A Chinese company Chungjingxin and Russian tour operator Grand Baikal signed a memorandum of cooperation to create a “world-class tourist cluster” on the south coast of the world’s deepest lake Lake Baikal, in Siberia, reports the press service of tour operator.
Under the agreement, Chinese investors are expected to provide about USD11 billion. The project provides for the construction of travel attractions and facilities, transport and logistic instruction, as well as other related transport and entertainment infrastructure around the Lake Baikal in order to attract a significant number of tourists to the region, the statement reads.
The initiative may contribute significantly to social and economic development of the region.
The new tourist hub is expected to be launched on the site of a former paper mill in the town of Zabaykalsk, according to the statement. The mill was shut down about three years ago and used to be the lake’s biggest source of pollution.
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