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Business news, 09.06.2004 13:39

‘Zipp’ to build ‘Slovak House’

‘Zipp’ to build ‘Slovak House’ The Slovak building company ‘Zipp Bratislava, spol.’ is about to build a multifunctional complex entitled ‘Slovak House’ in St. Petersburg. The project investments will come to $65 million.

To actualize the project the Slovak company will get a land spot in the second block located to the east of the Vytebsky Railroad (at the intersection of Salova Street and Volkovsky Prospect). In the words of Alexander Sinelnikov, the Russian representative of ‘Zipp Bratislava, spol. s. r. o.’, the multifunctional complex with a total area of 74 thousand square meters will occupy the above-said territory. Investments in the project will amount to $65 million. The project’s payback period is 6-10 years.

‘Zipp Bratislava, spol. s. r. o.’, which stands as the project’s investor, will get a loan secured by the Government of Slovakia. In addition, the project proposes advancement of Slovak goods in the Russian market, therefore, the national producers will be given preference in getting leasing rights.

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