OKKO Group Holding plans to start construction of a ski resort in 2021 on the territory of the Slavske amalgamated territorial community (Lviv region).

Taras Lozynsky, the deputy head of the department of tourism and resorts of the Lviv Regional Administration, told Interfax-Ukraine that the investment will amount to $500 million.

"This is a very long-term project that will last about four years. It will start in 2021. Now all issues with the land have been resolved, the next step is the development of the project, design estimates and the start of construction work," he said.

According to Lozynsky, the resort will be built 15 km far from Slavske in the villages of Verkhnia Rozhanka and Volosianka.

"Austrian experts came to study the slopes, the height of the mountains, infrastructure and these settlements were included in the strategy," he said.

"OKKO registered all its shares in Slavske and, accordingly, the tax paid by the company remains here in the community. These funds will be reinvested in the development of ski infrastructure, in the Slavske brand, in road repairs and community development," Lozynsky added.

According to him, the resort will be eight or nine years ahead of Bukovel in technical development. The complex will include over 60 km of skiing pistes. The project will be implemented in three stages.

OKKO Group is an all-Ukrainian holding, the flagship of which is the network of OKKO filling stations (Concern Galnaftogaz). The OKKO Group includes more than 10 diversified businesses in the field of production, trade, construction, insurance, service and other services.

The holding also includes the Vash Dom housing construction company, which is engaged in the design, construction and implementation of housing projects.

The shareholders and institutional investors of the holding companies are the European Bank for Reconstruction and Development, GoldmanSachs, Horizon Capital, Renaissance Capital, Genesis AssetManagers, LLP, and others.