Russia: Protsion launches aggressive development plan

Russian golf course developer Protsion plans to open at least one new golf facility each year in various regions throughout the country, according to Oleg Kustikov, the company’s CEO.

Protsion is expected to open Pine Creek Golf Club in Yekaterinburg in the summer of 2009. The developer also has plans to open three additional golf courses in Moscow, including the 450-hectare Forest Hills Resort and Golf Club.  

Protsion reportedly invests $200 million into its golf projects on average, with financing coming from NOMOS Bank as well as from private investors.  

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