Construction deals for southern Russia worth a total of 2.2 billion euros (3.0 billion dollars) were signed on Friday at an economic forum in the city of Sochi, officials said. The deals for hotels, entertainment complexes and shopping centres to be built in the region of Krasnodar included agreements with top international hoteliers Kempinski and Marriot.
Russia's Economic Development and Trade Minister German Gref said ahead of the Sochi-2007 forum that contracts worth a total of around 10 billion dollars in various investment deals would be signed.
The forum, which has been held every year since 2002, brings together top-ranking government ministers, regional officials, and investors in the southern resort of Sochi. The forum this year is focused on infrastructure and construction projects in Sochi, which earlier this year won a bid to host the Winter Olympics in 2014.