Three towers now but new Aminona resort would build more

Geneva, Switzerland (GenevaLunch) - The Russian company scheduled to build a large luxury resort in Aminona, near Crans-Montana in Valais, has assured the local Swiss mayor the project will go ahead as planned, Swiss radio RSR reports. Stéphane Pont, the town manager of Mollens, Valais, the administrative commune in which Aminona is located, has reportedly received a letter from the CEO of Mirax giving assurances that it has the financial means to develop the area, following a rescheduling of its debt with a Russian bank.

Pont wrote to Mirax CEO Sergey Polonski earlier in September asking for clarification of the situation, following reports in the Russian media that Mirax was in financial trouble and that it had not obtained credits for its projects for several months. Mirax announced 21 September that “Alfa Bank bought the rights to Mirax Group loans from Credit Suisse in July 2009 and became the company’s largest creditor.”

Mirax has plans to build a 600-bed project with a five-star hotel, luxury services and dozens of chalets, but the commune sent a letter to its Polonski after he recently wrote to the company’s shareholders to say Mirax could move into other hands: RSR noted earlier that CHF241 million in assets were frozen by the Russian government and Alfabank was after Mirax for non-payment of its debt.

Home of the new Orascom resort in Andermatt, Switzerland

The Aminona is one of two projects in the Swiss Alps to develop large new resorts and housing complexes. The other, in Andermatt, is being developed by Egyptian financer Samih Sawiris. It received final approval to go ahead earlier in September.

Background

Aminona and Andermatt projects

Why Samih Samiris is building in Andermatt, swissinfo

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