The construction of Russia's first information technology park, part of a government program to develop the nation's high-tech industry, officially began last week in St. Petersburg.

Occupying a total area of 44 hectares and using the Professor Bonch-Bruevich University of Telecommunications as its base, the IT park will need about $1 billion worth of investment. The IT park is due to start operating in 2008 or 2009.

News source: themoscowtimes.com
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