Saturday, August 23, 2014
 
Follow sptimesonline on Facebook Follow sptimesonline on Twitter Follow sptimesonline on RSS
MOST READ



PARTNER NEWS



BLOGS



OPINION



WHERE TO GO?

The Romanovs in St. Petersburg

History of St. Petersburg Museum

Small Tragedy, Fatal Passion

Rimsky-Korsakov Apartment Museum

 

  Print this article Print this article

Itera to Spend Billions Building Minsk-City

Published: August 7, 2007 (Issue # 1295)


MINSK It may be better known as the capital city of Europes last dictatorship but Minsk is looking to turn itself into an international financial and business hub.

Now, oil and gas giant Itera looks set to invest tens of billions of dollars in a massive new business and residential center in the heart of the city.

Conceived along the same lines as the ambitious Moskva-City project, the 300-hectare Minsk-City would eventually dwarf even its Russian counterpart.

On Tuesday, representatives from Iteras construction arm, Interainvest Holding, held a meeting with Belarussian President Alexander Lukashenko in Minsk to discuss the project.

During the meeting, Iteras interest in broadening its cooperation with Belarus was underlined, the company said in a news release. As part of this we discussed Iteras involvement in constructing the Minsk-City residential and administrative business center.

The Minsk-City proposal put forward by Itera envisions living space for up to 38,000 inhabitants, high-rise administrative-business complexes and a central 80-story skyscraper. The project would be built in the Aeroport district of the city, Itera said in a statement.

The project could cost around $30 billion, Russian media reports said.

Work is slated to start on the project in 2009, the official Belarus press agency reported.

The Minsk-City project was first mooted in May when Lukashenko set Minsks City Hall a timetable to come up with plans for the development, a statement from Lukashenkos office said.

Since being elected president of Belarus in 1994, Lukashenko has faced a barrage of international criticism over his perceived authoritarian rule, a clampdown on opposition parties and rigged elections.

In 2004, the United States introduced a series of targeted economic sanctions against Lukashenkos government for undermining the countrys democratic processes and for human rights abuses. Asked how viable the Minsk-City project is, Mihails Morozovs, managing partner of Colliers International in the Baltic states and Belarus, said many people had doubts about the feasibility of the Moskva-City project to begin with.

It is a question of how long-term your horizons are, Morozovs said.

If Lukashenko is personally behind the project, this could help speed the drive toward development, Morozovs said, citing Mayor Yury Luzhkovs personal backing for projects in Moscow.

If Minsk wishes to be recognized not only on the political but also on the business map of the future, then it has to have certain infrastructure. Minsk-City is one of the key points in this strategy, Morozovs said.

At present there are only around 70,000 square meters of Class A and Class B office space in Minsk, a very low figure for a city of 2 million people, Morozovs said.

Morozovs said there were both negative and positive aspects of working in Minsk, citing serious administrative control over the market. He said developers in Minsk faced greater difficulties than in Moscow. Any major architectural development would have to go hand in hand with massive investment into basic infrastructure, such as road and rail, Morozovs said.





 


ALL ABOUT TOWN

Saturday, Aug. 23


Uppsala Park plays host to Fairy Noon today, a performance of five separate fairy tales ranging from folk classics to more haunting selections. There will be three different renditions of the tales throughout the day and tickets start at 500 rubles ($13.80) for adults and 300 rubles ($8.30) for children.


Classic Finnish cartoon characters the Moomins expect to receive a warm welcome from Russian fans during todays Moomin Festival at the Pearl Plaza Shopping Center at 51 Petergofskoye Shosse. Become a kid again or introduce a new generation to the beloved creation of Finnish writer Tove Jansson.



Sunday, Aug. 24


The tortured genius of Dutch master Vincent van Gogh gets his day in the centers Konnushnaya Ploschad during Make Art Like Van Gogh, a daylong celebration of the artist that will allow amateur artists to try and replicate the work that made the famed painter world-renowned.


Experience a variety of dances highlighting the diversity of the world around as at the final day of the Ethno-Dance International Dance Festival that has been at the St. Petersburg Humanitarian University of Trade Unions this past week. Tonights performance will feature Egyptian dancers accompanied by local orchestras.



Monday, Aug. 25


Today kicks off the Elena Obraztsovoy International Competition for Young Vocalists in the large hall of the Shostakovich Philharmonic. Talented youngsters will showcase their range over the next six days before a winner is chosen on Aug. 30.



Tuesday, Aug. 26


Love movies but hate all those words? Then check out Rodina Cinema Centers Factor of Consensus film forum this evening. Silent movie classics from the beginning of the 20th century will be screened and accompanied by a pianist, who will provide the soundtrack for the ongoing action. The screenings begin at 7 p.m. Check Rodinas website for more details.



Times Talk