OKKO starts construction of an all-season ski resort worth $1.5B.

The largest gas station network in Ukraine, OKKO Group, is building an all-season mountain resort, the GORO Mountain Resort in the Lviv region. Construction was planned to begin in the spring of 2022, but the Russian invasion postponed these plans. The GORO Mountain Resort’s total area will be almost 1,200 hectares, of which 360 hectares are planned for ski infrastructure and more than 800 hectares for the development of hotel, commercial, and recreational facilities.

The plans include the first gondola cable car in Ukraine (2.8 km), the longest ski run (3.8 km), and 25 hotels with 5,500 rooms. Five hotel complexes with more than 1,100 rooms will be built on the 20-hectare territory of the resort’s first phase. Completion of the first phase of construction is planned for 2028-2029.

The total investment in GORO Mountain Resort is estimated at $1.5B. From this amount, OKKO Group plans to invest $500M of its own and borrowed funds, and another $1B is intended to be sourced from investors.