MANHASSET, N.Y. Russia will launch its first high-tech industrial park facilities by the end of 2007, Russian sources said.
The Russian cabinet will meet later this week to discuss progress on industrial park construction. The original plan was to construct parks in seven Russian regions. Singapore has agreed to advise on setting up special economic zones, some of which will include industrial parks.
The Ministry of Information Technology and Communications reckoned that the development concepts would be outlined for each of the industrial parks in 2006, including city planning and design estimates. Sources said that park sites will be identified within the next six months. Along with construction, preparations for housing and utility infrastructure will also begin.
Construction is expected to begin within a year. Park authorities will then begin looking for investors.
The network of industrial parks is expected to be completed over ten years, with about 19,000 jobs created by 2008 and 75,000 by 2011. Output from the parks is forecast to reach 117 billion rubles (about $4.4 billion) by 2011.