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Technopark Downsized, Experts Remain Positive
The board of directors of St. Petersburg Technopark, headed by deputy-governor Mikhail Oseyevsky, has approved, resized and refinanced the IT-Technopark project, which is due to be completed by 2015. Designed by HOK International architecture bureau in London, the IT-Technopark will be located on the premises of the Bonch-Bruevich St. Petersburg State University of Telecommunications in the Nevsky District near Dybenko metro station. It will be comprised of three buildings of 75,000 square meters each, as well as educational centers, dormitories, offices and parking lots. The park will accommodate about 15,000 programmers and provide some of them with cheap housing. The apartments will belong to the city, along with all of the technopark’s assets. Non-commercial real estate construction and further expenses will be covered by the federal and state budgets, while private investors and developers will be responsible for the commercial objects. Technopolis, one of Europe’s ... |
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| St. Petersburg Stock Exchange Director Viktor Nikolaev pictured outside the exchange, which began operating Monday, despite a ruling by the city planning council that the building broke regulations. |
Markets Lose Steam After Leap
MOSCOW — As Russia’s business and political elite wound up their weekend gathering in St. Petersburg, the local markets received a short-term lift, but wider concerns ... |
OGK-1 Building Tyumen Unit
NOVY URENGOI, Yamal-Nenets Autonomous District — Unified Energy System has begun the construction of a new, 450-megawatt production unit at the Novy Urengoi power station to provide much needed electricity for the country’s largest oil- and gas-producing region, although financing for the project remains in doubt. The combined-cycle 450-megawatt unit will cost 22 billion rubles ($929 million) and is scheduled to come on line in 2011, but that may be delayed as its owner, OGK-1, the country’s biggest generating company, has yet to secure the necessary funding. “Electricity is in greater need here in Novy Urengoi than ever before,” UES CEO Anatoly Chubais said at the foundation-pouring ceremony. “We are supporting the growth of our oil and gas companies responsible for most of the production in the region, and we have to build the unit as soon as possible.” Chubais, who has overseen the sell-off of the production assets of the state electricity monopoly, which will officially ... |
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Strabag Wins Road Tender
VIENNA — The Austrian builder Strabag has won a 1 billion-euro ($1.5 billion) share of a contract to build an eight-lane highway around St. Petersburg. The order is part ... |
In Brief
Construction Boom ST. PETERSBURG (Bloomberg) — The arrival of foreign carmakers including Volkswagen AG and PSA Peugeot Citroen in Russia’s Kaluga region has spurred ... |
Call For Cyrillic Cyberspace
MOSCOW — President Dmitry Medvedev called for the country to be assigned an Internet domain name in the Cyrillic script on Wednesday as part of a Kremlin drive to promote ... |
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Hewlett-Packard Chief Hails Investment
 As Russia’s economy continues to grow, more Western companies are entering the country in search of investment opportunities, including IT firm Hewlett-Packard, which ... |
Rising Fuel Costs Threaten Russia’s Smaller Airlines
MOSCOW — The economy and state coffers may be bulging from sky-high oil prices, but the soaring cost of aviation fuel could soon drive some of the country’s smaller airlines to the wall. Over the last 12 months, the price of airplane kerosene in the country has shot up some 125 percent — driving up ticket prices, devouring airline profits and putting dozens of smaller airlines at risk of bankruptcy. In the last six months alone, 24 airlines around the world have gone bankrupt, according to the International Air Transport Association, or IATA. “After enormous efficiency gains since 2001, there is no fat left, and skyrocketing ... |
iPhone On Sale ‘By End Of Year’
MOSCOW — When Apple CEO Steve Jobs announced last week that the company would begin selling its high-speed iPhone 3G in 70 countries this summer, Russian fans were enraged that their country was conspicuously absent from the list. But in a televised interview last week, Jobs offered what could be a bit of much-needed relief for iPhone lovers, saying the gadget could officially go on sale in Russia by the end of the year. “We just didn’t have a chance to close [a deal] with Russia. And I think you’ll see [agreements] happen later this year,” Jobs said on CNBC last week. He said not having a distribution agreement with ... |
