OREANDA-NEWS. September 24, 2012. In the course of the 11th Sochi 2012 Open Joint Stock Company the North Caucasus Development Corporation (NCDC, Vnesheconombank Group) and the Government of the Stavropol Territory entered into an Agreement on Cooperation in order to promote exhibition and fair activity in the Stavropol Territory. In the attendance of the signing ceremony were Vnesheconombank Chairman Vladimir Dmitriev and Governor of the Stavropol Territory Valery Zerenkov.

On behalf of the North Caucasus Development Corporation the Agreement was signed by Director General Anton Pak, on behalf of the Government of the Stavropol Territory – by Vice President- Prime Minister Yury Tyrtyshov.

The parties agreed to cooperate on the issue of creating modern multifunctional complexes to hold international, all-Russian and regional exhibitions and fairs and congresses on the region’s territory.

Under the Agreement the NCDC is to use its own funds to finance a project on the construction of a multifunctional complex on the territory of Russia’s specially protected ecological resort region – the Caucasian Mineral Waters. As of now, the project’s architectural concept has been developed and project engineering is underway now. The exhibition complex is to be comprised of 30 thousand square meters of covered spaces and 15 thousand square meters of open exhibition spaces. Construction is scheduled to start in October-November 2012. The facility is to be commissioned in the 1st quarter of 2014.
To build on the concluded Agreement on Cooperation with the Government of the Stavropol Territory, in the course of the Forum, NCDC signed an Agreement on Cooperation with LLC Formika to implement projects aimed developing a tourist sector in the North Caucasus. The first project with Formika to be implemented on the territory of the multifunctional complex in the Caucasian Mineral Waters is expected to be a launch of an annual international tourist infrastructure forum. In the parties’ opinion this forum will become an efficient instrument for exchanging best practices and will help to introduce the world’s quality standards in the Russian tourist sector.

The specially protected ecological resort region of the Russian Federation – the Caucasian Mineral Waters is a unique territorial formation within the borders of the sanitary protection of the mineral waters deposit of the Caucasian mineral waters artesian basin. In order to conserve unique natural resources and provide the state’s support for the Caucasian Mineral Waters in March of 1992 a Decree of the Russian President was issued. This Decree gave the Caucasian Mineral Waters status of a specially protected ecological resort region of the Russian Federation.

Formika Group of Companies was established in 2000 and nowadays it is a leader in the congress-fair activity. Companies incorporated in Formika Group specialize in organizing international congress-fair projects, managing exhibition complexes, business tourism and logistics. Formika Group of Companies carried out more than 15 thousand projects all over the world.