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Mélyépszer, ZAO sign $150 mln deal

ZAO OSK, Russia's biggest construction company, has signed an agreement with Hungarian peer Mélyépszer Kft on building an entertainment center and other buildings worth a combined $150 million in Moscow, the office of the Regional Development Minister announced yesterday. The aim of the agreement is to allow other Hungarian building companies to join in the project as well as in other construction projects in Russia. The agreement is the product of a meeting in February between Regional Development Minister István Kolber and his Russian counterpart Vladimir Yakovlev, the announcement said noting that the two will sign an agreement to promote cooperation in construction projects in Russia through stepping up state support.