Viktor Vekselberg, president of the Skolkovo Foundation, annouced yesterday to Russian president Dmitry Medvedev that the first office building of Skolkovo, the state-sponsored innovation hub under construction near Moscow, would be completed before the end of the year. The project’s administrative center will move to the Skolkovo territory in November, Vekselberg said.
Announced in 2010, the Skolkovo project aims to develop Russia’s leading technology and innovation hub. Built on the premise of President Medvedev’s priorities for economic development and modernization, the project is focused on areas in information and communication technology as well as biotech, energy and nuclear technology.
The project is being managed and financed by a consortium of public and private organizations in Russia. According to Skolkovo city manager Viktor Maslakov, the construction of the hub will take 5 years and require investments of up to 120 billion rubles ($4.26 billion).
Source: RIA Novosti
