Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Okhta Center Gets New Site

ST. PETERSBURG — Okhta Public and Business Center, a subsidiary of Gazprom, has acquired a plot of land in the Primorsky neighborhood of St. Petersburg from the LSR company, a company spokeswoman said Thursday.

"The plot has an area of 140,000 square meters located at the address 2 Lakhtinsky Prospekt," the spokeswoman said. It will be the likely site of the Okhta business center, which the gas company previously planned to build on the banks of the Neva River across from Smolny Cathedral, she said.

The business center project has been estimated to cost 60 billion rubles ($2.11 billion), with 7 billion rubles reportedly spent so far.

(MT, RIA-Novosti)