A government programme to establish science parks in Russia has been extended to 2014 to allow for completion of the Ingryya science park in St. Petersburg. The government is planning to issue RUB 550m ($18m) to fund the project in the next two years. Total investment is estimated to be RUB 30bn ($981.5m), 64% of which will be financed by private investors and 34% by the government. Initial funding was released by the local authorities last year, consisting of RUB 1.4bn ($45.8m) on engineering design and RUB 509m ($16.7m) on the construction of a business incubator and training centre.
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