OREANDA-NEWS. September 24, 2012. In the course of the 11th Sochi 2012 International Investment Forum in the presence of Russian Prime Minister Dmitry Medvedev State Corporation ‘Bank for Development  and Foreign economic Affairs (Vnesheconombank)’ and the Republic of Tatarstan entered into a Memorandum on Cooperation and Interaction on Implementing a pProject on the Creation of a Local Territorial Innovation Center Innopolis.

On behalf of Vnesheconombank the Memorandum was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of the Republic of Tatarstan - by President Rustam Minnikhanov. Under the Memorandum the parties are to explore the possibility of participating in funding the construction of a main building of techno park and housing infrastructure facilities of the local territorial center Innopolis.

The construction work started in June of 2012. A city under construction on the territory of 1200 hectares not from Tatar capital Kazan is designed for 155 thousand residents including 60 thousand IT-specialists. A master plan for Innopolis was developed by RSP Architects Planners & Engineers (Singapore).