Mikhail Shchetinin: According to the plans of the first investor, the first stage of the hotel complex including casino in the gambling zone will be put into operation in 2012.

According to recent statements of the regional authorities, the first gamblers will be able to try out the Altai site as early as this year. Meanwhile, there are just a few metal structures, the infrastructure still under development and one billion of attracted investments out of thirty required.

Information and political portal SibInfo interviewed the deputy governor of Altai Krai and head of the economy and investment division of the region Mikhail Shchetinin about “Siberian Coin”. Ironically, earlier there were many discussions about this gambling zone, but lately for some reason they have practically ceased.

In progress

- Mikhail, still, the project has been suspended or the works are in progress?
- Works to create Siberian Coin gambling zone in Altai Krai continue. The legal framework for the activities in the gambling zone as well as the draft plan for the construction of intended facilities within the zone have been developed. All the land lots have been delimited and entered into the cadastral registry, the land lots of the first phase of construction have been appraised for lease to the investors, access roads to the gambling zone have been built and the issue of gas and electricity supply is being solved.

- Initially, it was reported that not only Russian, but also foreign companies intended to invest in this project. Are they still interested? Are there any investors willing to invest into this project?
- Currently two investors are realizing projects in the gambling zone. Both companies are representing Russian business. With regard to foreign investments, currently negotiations are carried on with the European and Chinese companies.

- There were rumors that Russian pop stars are interested in the construction of Siberian Coin. In particular, Alla Pugacheva allegedly purchased a stake in the project.
- We don’t have such information.

- About two years ago there was information about the then single investor from Kemerovo planning to implement a few interesting projects in the gambling zone. It was reported that the total investment would amount to no less than 420 million rubles. Is Siberian Coin still a part of their plans?
- Works to create Alti LLC, the first gambling and entertainment complex in Siberian Coin are in progress. Water and electricity supply has been provided for the construction site and metal structures are being installed.

Local Las Vegas will come to be
- Mikhail, it was previously reported that completion of the construction of the first tourist and entertainment centers is expected in 2013, but the first stage of the facilities would be commissioned in 2011. Now it’s the end of the second quarter of 2012. Are there any completed facilities in the gambling zone, are there any under construction?
- When preparing for the construction and assembly works the investor encountered unforeseen technical difficulties that required modification of the design documentation, and therefore the time of commissioning of the first stage has been moved from 2011 to 2012. Completion of the entire complex in accordance with the signed investment agreement is still expected in 2013.

- Does the regional administration undertake anything to develop the external infrastructure necessary for the effective development of the gambling zone?
- Given the proximity of the gambling and special economic zones, the issues of building the external infrastructure such as gas and electricity supply and transport accessibility are solved simultaneously for the two complexes. The road from the gambling zone to the nearest community Nizhnekayancha and a two-lane bridge across the Katun River have been built. A section of temporary road adjacent to Siberian Coin limits has been built. Commissioning of the gas lateral and gas distributing station in the nearest community Nizhnekayancha is expected this year.

Quietly but persistently

- What area of the future gambling zone has already been “planned out”?
- In 2009, in order to implement the project, the land use plan was developed for the entire gambling zone with total area of 2.3 thousand hectares.

- Initially, the area was planned to include 15 casinos and about 10 major entertainment and gambling complexes, which will be located in 30 hotels and are designed for more than 3,000 seats. Were there any recent changes made?
- No changes to the approved land use plan of Siberian Coin gambling zone have been made.

- According to the expert estimates, all this amounted to 30 billion rubles. How much money are we talking about now?
- Currently, the project cost is estimated at about 30 billion rubles. The volume of announced investments in the gambling zone now stands at around one billion.

- It was planned that the first customers will attend Siberian Coin as early as in 2012. However, there is speculation that gamblers may have to wait a little while. So what dates can we talk about?
- According to the plans of the first investor, the first stage of the hotel complex including casino in the gambling zone will be put into operation in 2012.

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