Germany invests in Nagatino industrial park

Based on the agreements between the Government of Moscow and the Government of the German Land a German House will be open in the industrial park to host representative offices of some innovative small and middle-sized companies of Germany. The investment contract was signed the other day by OAO Moscow Business Incubator implementing the construction project of the Moscow city industrial park Nagatino i-land and the real estate department of Landesbank Baden-Württemberg – a state bank of the German Land.

In accordance to the agreement, LBBW will co-invest the construction of a 23k sq. m building in the park which is to be put in operation in the first quarter of 2009. The deal volume is several dozen million euros, say representatives of OAO Moscow Business Incubator. One of the most interesting features of the deal is that it is guaranteed by some large financial structures such as Vneshtorgbank and the Russian Bank of Development. Most risks related to a construction are insured by Ingosstrakh.