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The so-called “Russian Cambridge” will become the home for students and professors of five federal universities of technical education – the project will boost educational infrastructure in the country.
Situated in Domodedovo, 37 kilometres south of Moscow the facility will require 45-60 billion rubles in order to be established.
It will include the federal centre of sport medicine and the training base for preparations for the 2018 Fifa World Cup.
The hub is looking to draw investment of at least 30 billion rubles.
It will occupy over 40 hectares and part of the territory will be given to Gosfilmofond, one of the world’s largest film archives to create a cinema centre.
Ethnographic park “Russia” will be built in the vicinity and will require another 50 billion rubles.
The idea of this project was announced last year and the COALCO Development company has agreed to provide the land for the complex.
Sources of financing for the entire project have not yet been made public.
However, since the five universities that will be based at the facility have a federal status, the education project is most likely to be funded from the federal budget.
Several ministries have been charged to work on financing of the ambitious project.
Some names of Russian business tycoons that might become the co-investors of the project are – Oleg Deripaska, Viktor Vekselberg, Petr Aven and Mikhail Prokhorov.
Russian Railways have been asked to prepare the development project of a Moscow-Domodedovo service.