Support The Moscow Times!

Skolkovo Sets Budget

The budget for Skolkovo in 2011 will be $750 million, head of the Skolkovo Foundation Viktor Vekselberg said after a meeting of the foundation board Friday.

There were 20 bids in the Skolkovo construction tender, and French and Dutch companies were among the finalists selected, Vekselberg said a day earlier after meeting with President Dmitry Medvedev. The first office building in Skolkovo will be built before the end of this year, he added.

Skolkovo Foundation is allocating the ABBYY company a grant of 475 million rubles ($16 million) for the development of text interpretation and analysis software. The total cost of that project is estimated at 950 million rubles.


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.