ST. PETERSBURG — Etalon Group plans to build the first section of a congress and exhibition center in St. Petersburg for ExpoForum at a cost of 14 billion rubles ($500 million), Etalon said in a statement.
Etalon expects to sign an agreement with ExpoForum, according to which it will be the general contractor for the construction project.
The new multipurpose complex will be located in Shushary, outside of St. Petersburg, and will consist of a congress center, exhibition halls, two hotels (one four-star and the other three-star), two business centers and other facilities.
Construction work should be finished by Oct. 31, 2013.
Etalon Group's main owners are Vyacheslav Zarenkov, board chairman at LenSpetsSMU, and his family members.
ExpoForum was founded in 2008 for the construction of a congress and exhibition center. Once the project is finished, ExpoForum will continue to operate as the manager of the facilities.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
