KIEV, April 18 – Kiev-based Steltex Investments developing company is to invest $100 million in the construction of a hotel complex with apartments in Yalta (Crimea), its board chairman, Oleh Salmin, said at a press conference in Kiev on Thursday.

He said that construction would start in the middle of 2009, and the hotel would be commissioned in 2011.

The 151-apartment complex of 75,800 square meters would be located 70 meters from the beach. The complex would also have a 101-room hotel, with all the necessary infrastructure.