Moscow, Russia – Russian President Dmitry Medvedev plans to spend 450 billion rubles, or nearly $15 billion, to build five ski resorts in the North Caucasus by 2010 that would rival the world’s best, an official familiar with the plans said on Monday.nRostislav Murzagulov, a managing partner with project consulting firm Agitpro, told The Moscow Times newspaper on Monday that Medvedev sees the investment in the region’s economic prosperity as a well to quell insurgent attacks that occur there almost daily now. He further indicated that the resorts will be world-class, and could potentially support year-round skiing.

“The situation in the south of Russia is very favorable. There are many airports and a good infrastructure. The potential is great,” Murzagulov told the newspaper.

The resorts would be built in Matlas, Dagestan; Mamison, North Ossetia; Arkhyz, Karachayevo-Cherkessia; Lago-Naki, Adygeya; and on Mount Elbrus in Kabardino-Balkaria, and are said to be Medvedev’s idea. Medvedev himself is a skier, and vacationed in January at the Krasnaya Polyana ski resort in Sochi, Russia, home to the 2014 Olympic Winter Games.

Murzagulov claims that key investors for the public-private partnership are already on board from U.S., Arabian, Scandinavian and European financial companies, including the German insurer Allianz and U.S. banks JPMorgan Chase and Morgan Stanley.

Project design and planning is expected to begin next year.