Asian, Middle Eastern Investors to Fund Science Park in Moscow - Russian Investment Fund

Sputnik News Service, 13.05.2017

BEIJING, May 13 (Sputnik) - Russian Direct Investment Fund (RDIF), Russian-Chinese Investment Fund (RCIF), funds from the Middle East and Russian Vi Holding company have agreed on financing the construction of a science and technology park on the territory of former Tushino airfield in the Russian capital of Moscow, RDIF CEO Kirill Dmitriev said Saturday.

"We invest into Rostec city together with Russian-Chinese fund and several investors from the Middle East and Asia. It is a huge project worth $1 billion, with a big debt-based share, but with [shareholders'] equity reaching up to $300 million," Dmitriev told reporters.

The project, which was first announced in 2015, implies the construction of office and residential buildings as well as social infrastructure and recreational facilities on an area covering 1 million square kilometers (380,102 square miles).

The main company leasing the facilities of the new science park will be Russia's Rostec corporation.