North West | Finance, business

Zvezda to open $6.4m multiple-access center for small businesses

3 Dec '10
St. Petersburg producer of ship diesel engines Zvezda (Star) has been announced the winner of an open tender for a right to open a $6.4m multiple-access center for small machine-building businesses in St. Petersburg, the company reports.

Of the total funding, $3.5m is to be invested by the company, and $2.9m is to be put up from the city and federal budgets.

The center, to be located at Zvezda plant premises, is reportedly to be equipped with high-tech mechanical equipment available for use by small industrial firms.

The center is scheduled to open in mid-2011.
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