The Turkish ‘Renaissance Construction’ has acquired 50 % in the project of the “Russia” tower in the “Moscow-City” business centre, as “Kommersant” reports referring to the source close to the transaction parties.

      ‘Renaissance Construction’ will also be the general contractor in the tower construction. The remaining part of the tower under construction will still belong to the co-owner of the Magnitogorsk Metallurgical Plant (MMP) Viktor Rashnikov and his partner Nader. The implementation of the project of the “Russia” tower construction was started by the owner of ‘Russian Land’ Shalva Chigirinsky in 2007. The entrepreneur planned to build the highest tower in Europe that would be 612 m tall on a plot No. 18 of “Moscow-City”, but his plan was not fulfilled. Now “Russia” is among the three long term construction projects; because of these projects the construction of “Moscow-City” won’t be completed by 2015, as it was required by the Mayor of the city Sergei Sobyanin.