Mirax Group on behalf of the regional division of OJSC "Mirax Balkan Management" (Mirax Balkan) in 2008 will invests nearby 50-60mln euro in development and maintenance of tourist infrastructure of Montenegro. It is spoken about in the report of Mirax Group.

MOSCOW, Nov 18 (Prime-Tass) -- Mirax Balkan Management, a part of Russian real estate developer Mirax Group, will invest between 50 million and 60 million euros of its own funds in 2009 to build tourist facilities in Montenegro, the company's press service said Tuesday.

The global financial crisis has buffeted the balance sheets of Russia's legion of billionaires. But suitcases of cash and Russian-owned luxury yachts keep arriving in this idyllic town on the Adriatic, helping Montenegro earn the nickname Moscow-on-the-Sea.

BUDVA, Montenegro -- The global financial crisis has buffeted the balance sheets of Russia's legion of billionaires. But suitcases of cash and Russian-owned luxury yachts keep arriving in this idyllic town on the Adriatic, helping Montenegro earn the nickname Moscow-on-the-Sea.

BUDVA, Montenegro: The global financial crisis has buffeted the balance sheets of Russia's legion of billionaires. But suitcases of cash, and a flotilla of Russian-owned luxury yachts, keep arriving in this idyllic town on the Adriatic, helping to earn Montenegro the nickname Moscow-on-the-Sea.