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Chinese company to erect hotel facility in Magadan

Tyan He (China) and Magadan Region authorities have agreed to construct a hotel facility featuring entertainment infrastructure in Magadan with the investors intending to proceed to the construction as early as in May this year.

The investment project contemplates the construction of the hotel facility with a restaurant, entertainment infrastructure and 200 cars' indoor car park in the Kolyma Region's capital. The erection of the project is proposed to commence in May this year in Nagaevo housing development. According to the company's executives, the project is going to occupy about 8 thousand square meters.

The facility is going to be called "Gold City" as Kolyma is reach in precious stones and Tyan He holds several licenses for deposit development in the Magadan Region.

Tyan He has been operating in Kolyma since 2014. It explores Kunarevskaya prospective area located at the interface between the Srednekansky, Susumansky and Yagodninsky Districts and Pridnreprovskaya area in the Khasinsky District. The first deposit is reach in zinc, tin, copper and silver with the second profusing in gold.

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