Estimated Investment of USD 10 Billion Needed to Prepare for EXPO-2010

According to estimates, an investment of USD 10 billion is needed to prepare for the EXPO-2010 exhibition. This is what Yuri Luzhkov, Moscow's Mayor, said at a press conference following the closing of the 131st session of the General Assembly of the International Bureau of Exhibitions (IBE). As reported by the Government's Department of Information, the mayor was among the participants of the presentation of Moscow as a candidate host of the EXPO-2010.

Mr. Luzhkov said about USD 2 billion would come from Russia's federal budget and the budget of Moscow. This money will pay for the development of the transportation and engineering infrastructures, while outside investments will be needed to build pavilions, hotels, and service establishments. Mr. Luzhkov assured that the organization of the EXPO-2010 exhibition would meet not only all the requirements of the IBE but also the highest standards as concerns international events on this level.

The Mayor of Moscow also said the symbol of EXPO-2010 was being discussed. For instance, it could be the giant 648 metres tall Russia tower to be built in Moscow City the capital's international business centre.

The presentation of Moscow as a candidate host of EXPO-2010 exhibition was also attended by Zhores Alfyorov, the Vice President of Russia's Academy of Sciences, a Nobel Prize winner, and hosted by Oxana Fyodorova, Miss Universe from St. Petersburg.

The city to host EXPO-2010 will be named at the next session of the General Assembly of the International Bureau of Exhibitions in December 2002.