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The First Stage of the Minsk-City Construction to Commence in the Fall of 2008

Vladimir Resin, Chairman of the Supervisory Board of SOOO Minsk-City Management Company, has held a business meeting in the Byelorussian capital city on July 31.

Issues related to the Project implementation and the creation of a unique architectural complex on 318 ha in the downtown area were discussed. The Business Center detailed plan, shopping space, residential sector, social facilities, as well as the systems of transportation and engineering support have been considered.

Vladimir Resin stressed that special attention needed to be paid to planning the Public Center zone so that the environment to be formed for the life of citizens of Minsk would be a diverse and sound one. The building land for the Minsk-City Project and its starting conditions, - he specified, -«allowed for implementation of all our ideas and dreams».

Alexander Surikov, Extraordinary and Plenipotentiary Ambassador of the Russian Federation to the Republic of Belarus, who participated in the meeting, pointed out that ITERA International Group of Companies that, as a strategic investor, was granted a right to implement the Minsk-City Project,  has proved a reliable business partner in the Republic of Belarus. The Minsk-City Project’s indicative value is about US$5 billion, which is a fair amount of the Russian investment, - the diplomat stated.

The meeting participants sited that a community of foreign architects was greatly interested to take part in construction of the Minsk-City. Renowned foreign design firms participate in the tender for the best architectural concept intended to combine a harmonic way the old city image and a city of future. The winner shall be determined this fall.  Then, the first stage of the Minsk-City construction will commence.

Nicholas Ladutko, Deputy Chairman of the Minsk City Council, Igor Makarov, Chairman of the Board of Directors of ITERA International Group of Companies, Dmitry Balakin, Chairman of the Board of Directors of ZAO SU-155 Group of Companies, Valery Korotkov, General Director of ITERA-Invest-Story, a developer company, took part in the meeting.

Sergey Sidorsky, Prime-Minister of the Republic of Belarus, received Vladimir Resin and Igor Makarov the same day. Results of the SOOO Minsk-City business meeting were discussed at that meeting. SOOO Minsk-City Management Company includes ITERA International Group of Companies, the Minsk City Council (KUP Minsk City Real Estate Center), ZAO SU-155 (the Project’s technical customer and general contractor).

31/07/2008

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ITERA Oil and Gas Company
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