St.Petersburg Legislative Assembly Passed the Law on Financing the Okhta Centre17.10.2007Deputies of St.Petersburg Legislative Assemble passed the city’s Target Program ““Construction of Administrative and Business Center in St.Petersburg” on third reading with 38 votes in favor.
It is stipulated in the law that funding of the program’s main activities will be effected by the principal founding member of CJSC Community and Business Center “OKhta”, i.e. by JSC Gazprom Neft to the tune of 30.6 billion Rubles and from the city budget to the tune of 29.4 billion Rubles.
The title to the newly erected property will be vested in CJSC Community and Business Center “Okhta” where JSC Gazprom Neft will own 51% of the company’s authorized capital and the city of St.Petersburg – 49%.
