00:0004 декабря 199800:00
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00:0004 декабря 1998
Civil servants at the city administration have ordered OOO Nevsky 10 to transform the historical building at Nevsky 10 into a three-star hotel, at their own cost. In return, they have been promised freehold ownership.
<BR>Civil servants at the city administration have ordered OOO Nevsky 10 to transform the historical building at Nevsky 10 into a three-star hotel, at their own cost. In return, they have been promised freehold ownership. <BR>The construction company does not like the idea, because another $1.5m will have to be invested in the building. Apart from this, they intended to build a business centre, rather than a hotel.<BR>OOO Nevsky 10 was formed by RAO VSM and the IST group of companies. The company has been promoting the project since 1994, and has already invested $3.75m. Reconstruction was carried out with the help of Swedish company Skanska. Considering the market value of the building is greater than the volume of investment, the company will have to pay the city an additional $500,000.<BR>The cost of additional construction work, according to OOO IST-stroi Director Vladimir Strizhakov, will be another $1m, bringing direct investment in the project up to $5.25m.
