The Bill on Change of the Okhta Centre Financing Scheme Approved by St.Petersburg Legislative Assembly on First Reading19.09.2007Deputies of St.Petersburg Legislative Assembly approved a first reading of the bill proposing changes to the target program “Construction of Administrative and Business Center in St.Petersburg”.
38 deputies voted in favor, three voted against with no abstentions.
This law amends the financing arrangements for the community and business complex Okhta Centre. Under the revised law 51% of the project will be financed by JSC Gazprom Neft and 49% - by St.Petersburg Administration.
The center will be erected by CJSC Community and Business Center “Okhta”.
According to the architectural and planning design concept of the Okhta Centre project, offices of Gazprom and its subsidiaries will occupy 16 percent of the total space of the community and business complex. 35 percent will be designated for public purposes and the rest 49 percent for business centers.
