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Inteko Shows Interest in Minsk-City Project

Minsk municipal authorities are holding talks with companies from interested in investing in the Minsk-City business center project.

The companies are from various countries, and the group includes Russia's Inteko.

"Today we are working with Russian company Inteko," said Sergei Radoman, a city official, Interfax reported. "A working group visited and studied materials in detail."

The possibility of participation by a company from Turkey, which has announced it is willing to invest around 4 billion euros, is also being discussed, Radoman said.

Discussions are also being carried out with investors from China, Iran and Qatar.

"A final decision has not been made yet. The new investor needs to develop a new concept that should be approved by city authorities," Radoman said.

In February 2012, Belarus terminated an agreement to implement the Minsk-City project with Itera, saying the investor had not met its obligations in capital investment and construction terms.

The project as envisioned consists of capital investment of $5 billion, construction at Minsk-1 Airport and the establishment of a business center.

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