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. Last Updated: 07/27/2016

Aeroflot Office Gets Under Way

National carrier Aeroflot began construction of its new headquarters Friday in the village of Melkisarovo, near Sheremetyevo Airport, Interfax reported.

The founding stone of the 35,500-square-meter building was laid on the site in an official ceremony, the report said.

The new office will be composed of two six-story buildings and an underground parking lot able to accommodate 500 cars.

All of the airlines' operations will be relocated to the new headquarters, with the exception of its call centers and ticket offices, which are spread across Moscow.

Turkish general contractor Mebe, which is working on construction of the building, expects work to be completed in the fourth quarter of 2008.

The entire project will cost $71 million, Aeroflot CEO Valery Okulov told reporters at Friday's foundation-laying ceremony.

The office "will make it possible to bring together all of Aeroflot's subdivisions" into one building and put them near the site of the company's core activities, Okulov said.

Financing for the building is covered by a three-year capital investment plan already drawn up by the company.

Aeroflot, which employs around 15,000 people, recorded revenues of $2.5 billion in 2005 and an operating profit of $242 million.