Moscow authorities terminate contract with Eurasia
2010-07-13
The project which involves a mixed-use underground complex in Paveletskogo Vokzala Square in Moscow has new investors. The project was founded by the Eurasia group, controlled by Mukhtar Ablyazov, who is being sought by the authorities because of various accusations, including the alleged misappropriation of €4.2bn.
According to informed sources, the new investors have been brought in because the Moscow authorities have not been satisfied with the performance of Eurasia, which has postponed the completion of the project several times. The new investors are entities controlled by the Russian businessmen Gaud Nissanov and Zarakh Iliev, who built the Evropeysky shopping mall in Kievskogo Vokzala Square in Moscow. Entrepreneurs are considering buying out other Eurasia assets; it had been announced earlier that the businessmen intended to invest €1.2bn in various commercial property assets, according to a report in Rbc Daily.
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