TMM Plans to Build Health Resort
3 July 2008
TMM Development (TR61 GR) announced yesterday that it plans to build a year-round health resort situated in the Arabatska Strilka, along the Azov Sea. The complex will have a mineral water retreat and several living quarters. The management of TMM Development estimates the project’s costs at USD 0.5 bln. The company signed an agreement to lease a land plot with an area of 26 hectares for 49 years; TMM plans to acquire an adjacent 25 hectare land plot.
