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Thu 17 Jun 2010 08:43 AM

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Arabtec not aware of any order to stop Russia tower work

UAE builder responds to reports suggesting St Petersburg skycraper plan has been halted.

Arabtec not aware of any order to stop Russia tower work

Arabtec Holding, the UAE's biggest builder, said on Thursday it had no information on any decision to halt the Okhta Centre project in Russia.

Arabtec said in a statement on the Dubai Financial Market website that it was responding to reports citing the Russian president on the project.

Last year, Arabtec said it had started foundation tests on the St Petersburg tower project, after winning a AED10bn contract from Russia's Gazprom Neft.

Arabtec won the contract to build the first stage of the 400 metre high Okhta Centre in April 2008 from the oil arm of Russian national gas company Gazprom.

The Okhta Centre, the headquarters for Gazprom Neft, will be highest office building in Europe when built.

Earlier this month, reports said President Medvedev had demanded that officials look at “alternative variants of its height” amid concerns about its impact on the historic city of St Petersburg.

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