The project is initiated by “Union of German Economy in Russia”, joining about 500 German companies which have business in this country. The project stipulates construction of an office and hotel. The offices are basically designed for German small and medium business, which, according to “Union” management, “has diverged from prejudice and restraint and passed to more intensive direct investments in Russia”.
Cost of the project is €50 million. “REF AG” (Germany) is the chief engineer and contractor. Construction is scheduled to be completed in 2006.
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