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According to Mr Aliev, Dagestan’s gross regional product rose by 18 percent in 2006. Industrial output increased by 12 percent, agricultural output was up by 5 percent and fixed capital investment increased by 28 percent. Housing construction was up by 12 percent in the republic last year compared to 2005, and people’s incomes rose by 38 percent.
Mr Aliev said he was hopeful that this would be a successful year for Dagestan in terms of attracting investment. In particular, Mr Aliev said, the company Nafta-Moskva has already concluded an agreement with the republic, which will see Dagestan receive 2.5 billion roubles (approximately $100 million). This money will be used for housing construction, Mr Aliev said.
Another company, Alliance, plans to build a cement plant in Dagestan, while oil company LUKOIL, together with German company Wintershall, will begin an offshore exploration project with total investment of 1 billion roubles (around $40 million).
Mr Aliev also announced good results in the hydroelectricity sector. Dagestan has signed a 30-year agreement with GidroOGK Company to develop small and medium-sized hydroelectricity projects in the region. There are also plans to build a large hydroelectricity plant in the republic.
March 23, 2007, Novo-Ogaryovo