Friday, July 20, 2018

Tagilskaya Lagoon project gets $5 million from federal budget

The Waterfront Tagilskaya Lagoon renovation project received funds amounting to approximately $5 million from Russia’s federal budget, Oblastnaya Gazeta reported Tuesday.

The Waterfront Tagilskaya Lagoon is a key element in the Sverdlovsk region’s tourist route.

The funds are meant to improve the area to make it more appealing as a tourist destination to bring economic growth to the Sverdlovsk region.

The funds will mend Fox Mountain, a historic landscape area that hosts boat stations, water sports, hotels and cafes.

Renovating the area overall will cost the equivalent of approximately $24 billion.

In 2015, the project will receive the equivalent of approximately $1 million. In 2016, it was receive another $3 million.

The project will rely heavily on private investors and has been approved by all of the necessary officials, including state examiners and the Yekaterinburg FAA Glavgosexpertiza Russia branch. The project is expected to be completed in 2016.

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Oblastnaya Gazeta

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