The construction of Minsk City business centre should be accelerated, President of Belarus Alexander Lukashenko told a session involving top executives of ITERA International Group of Companies on October 30.

The President instructed to complete relocation of Minsk Aircraft Repair Plant by January 1, 2010 and launch the large-scale construction in 2010. The business centre will occupy an area of 300 hectares with over 1.5 million square meters of housing, thousands of offices and social facilities. Minsk City will provide over 55,000 new jobs. Besides, the adjacent territory will be changed.

According to Minsk Mayor Mikhail Pavlov, this will be the biggest project the country has ever implemented.

ITERA International Group of Companies will be the main contractor. It will set up a joint venture with the Minsk City Council. Several subcontractors will be involved in the construction as well. The investments will total $7 billion. According Mikhail Pavlov, “this is a well calculated project” which will be fully funded by investors. The project design is estimated at $200 million. In accordance with the project, Minsk Aircraft Repair Plant will be relocated without job cuts.

Chief architect of Minsk Viktor Nikitin reported that the design offered by the Russian party was approved by Minsk architects and that the construction of Minsk City could be started.