ROC to invest in commercial real estate, farming, high-tech
2007-02-07 13:15:00 Russian Church to undertake investment projects in commercial real estate, farming, and high-tech
Moscow, February 7, Interfax - The Russian Orthodox Church plans to stir up its economical activities by undertaking investment projects.
The Investment Programmes Centre created by the Moscow Patriarchate for that purpose, developed a number of unique investment programmes and projects of national importance, the Vremya Novostey daily said on Wednesday.
Imagine how difficult it is now to find a ground to build an office or an elite house in the Moscow city centre, even if one has enough money. Grounds like that are already out of stock. But the Church has such grounds, and this is the chance for our future projects, the periodical quoted a centre representative.
Currently there are over one hundred objects involved in the project in Moscow. The programme of patriarchal churches restoration in Russias capital includes construction of commercial buildings - offices, shops and residences - under the churchs patronage and partially based upon the church-owned grounds.
According to the Centres head Elena Shulgina, a Centre for Culture and Business in Piatnitskaya St is going to be one of those buildings. The Churchs new realties including offices, shops, exhibition centres, and hotels, will be located in literally five minutes walk from the Kremlin.
Among other church-participated investment projects there were listed a multipurpose complex in south-west of Moscow, an elite residential complex in Lazorev Lane, and some more in Moscows historic centre.
The Church is also active in reviving agriculture. For that purpose agroindustrial complexes are to be created on the basis of monastic farms. The fish-farming sphere will enjoy special approach as it is particularly favoured by Christians.
This project will include creation of a centre for rearing of sturgeon and salmon. The church will not ignore the high-tech. A project is being prepared in collaboration with the Kurchatov Institute for organizing reactor and cyclotron radionuclide-based production.
Before the Bolshevik revolution of 1917 the Orthodox Church was the biggest economical power in the Russian Empire. It owned 1 159 875 dessiatinas (approximately 6523 sq miles) of land, 84 factories, 277 hospitals and orphanages, 434 milk farms, 603 farm-yards and hors-yards, the periodical said.
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