Massive skyscrapers to be built at Lakhta Center
Two more massive skyscrapers will be built at the Lakhta Center in St. Petersburg.
Alexey Miller, Chairman of the Management Board of Gazprom, whose majority shareholder is the state and which refused to pay shareholders dividends for last year, told Russian President Vladimir Putin, who was attending the St. Petersburg International Economic Forum, about the company's plans to build two more skyscrapers at the Lakhta Center in St. Petersburg: one 555 meters tall and the other 703 meters tall. He boasted of "architectural research." The construction of the 462-meter-tall Lakhta Center tower cost over 120 billion rubles (according to Interfax).
In 2008, Alexey Miller predicted that Gazprom's market capitalization would reach $1 trillion within seven to eight years; on Wednesday, the company's market capitalization stood at $33 billion.
Central Bank Governor Elvira Nabiullina at the St. Petersburg International Economic Forum (SPIEF): "We see that confidence [in the capital market] is being restored, as evidenced by the growth of IPOs. Perhaps we can't call it an IPO boom, but there are more of them... This is also a certain indicator of restored confidence in the capital market."