While participating in the Sochi International Investment Forum, Russian Prime Minister Vladimir Putin visited the exhibition of development plans for the constituent entities of the Russian Federation.

In particular, Mr Putin inspected the exposition of the Krasnodar Territory - the largest territory presented at the exhibit. Sochi Mayor Anatoly Pakhomov told the Prime Minister that by the 2014 Olympics, a new road will be built that will serve as a back-up for Kurortny Prospekt, on which hotels will be built. Plans also call for a wide pedestrian quae.

Pakhomov informed the Prime Minister of plans to build a 24-storey hotel on an artificially-created island.

"A spiral-shaped hotel will resemble an Olympic torch," Mr Pakhomov explained. "This building will be reminiscent of the Sail Hotel in Dubai."

"Beautiful," remarked Mr Putin upon viewing the building model. "But ours must be better."

Pakhomov also showed the Prime Minister the future Olympic indoor skating centre, which will be used for exhibitions, trade fairs, forums and conferences after the games.

In addition, Mr Putin was shown another model for new buildings in Nekrasovka district, as well as Tavricheskaya Ulitsa, where citizens have already relocated from areas where Olympic facilities are being developed.

* * *

During the Prime Minister's inspection of the North Ossetia - Alania stand, he participated in the launch of the lead water intake at the Zaramag Hydroelectric Power Station.

Taimuraz Mamsurov, the president of the republic of North Ossetia, said that in time, this major hydroelectric power station and the dam's intake chamber are a stand-alone generation system. The hydroelectric generating set develops power of up to 15 MWt, which already covers half of the republic's needs.

"If you please," said Mamsurov, addressing Putin, "Launch the first station."

During the live TV broadcast from Zaramag, Mr Putin congratulated the plant's personnel for completing the first stage of operations and issued the command, "Start!"

At this, the plant director pressed a button and an operating turbine appeared on the screen, showing the water that was already gushing from the turbine and into the Ardon River.

At the Russian Railways stand, company head Vladimir Yakunin told Mr Putin about the progress of construction of joint rail and automobile roads from Adler to Krasnaya Polyana. Yakunin said that these roads will be over 60 kilometres long and 1/3 of them will be tunnels. Yakunin added that 400 metres of tunnels had already been excavated.

* * *

During the Prime Minister's visit to the Sberbank stand, Sberbank CEO German Gref told Mr Putin that in November 2009, the bank intends to launch an electronic credit allowance system for loans to individuals. The Premier was shown how the system works. The loan approval process bypasses direct loan officer participation - an electronic loan officer performs the transaction automatically.

While Mr Putin was inspecting the Chechen Republic's stand, Chechen Prime Minister Odes Baisultanov approached him with a request to grant a loan from the state budget in the amount of 15 billion roubles.

"We have been talking about this loan for a long time, but no corresponding government resolution has been issued," said Mr Baisultanov.

Mr Putin asked Federal Envoy and Deputy Prime Minister Dmitry Kozak to resolve this issue, and Mr Kozak pledged to receive Chechen government representatives during the next week to discuss the possibility of disbursing the loan. Mr Baisultanov said that the loan is planned for large investment projects such as an agriculture holding company, construction of a cannery, etc.

In outlining his plans for the development of the Republic, the Chechen premier showed Mr Putin models of future residential districts - high-rise construction on the Sunzha River embankment in Grozny and comprehensive development of a residential district near the city's Minutka Square.