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Ruric Tries Medvedev Blog

ST. PETERSBURG — The Swedish firm Ruric, investing in the St. Petersburg complex Apraksin Dvor, has resorted to appealing to President Dmitry Medvedev via his blog after running into a brick wall in its attempts to develop the inner-city site.

In 2004 Ruric bought about 18,000 square meters of the historic market complex Apraksin Dvor and began reconstruction work on the site immediately. But a disagreement over relocation of a firehouse present at the site led the city's property management committee to annul their contract and select another partner, although Ruric had already invested $40 million in the project.

An open session summoned by Governor Valentina Matviyenko failed to resolve the problem, and an alternative site for the fire station has yet to be found.


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