Renova StroyGroup Company signs a three-power agreement on investment collaboration with Chelyabinsk Region Government and Sosnovsky municipal region administration. The subject of the agreement is collaboration between the developer and the regional and municipal authorities while the ‘Sunny Valley’ Integrated Urban Development (IUD) investment project is being implemented on the territory of the Chelyabinsk Region.

The agreement envisages the development of the ‘Sunny Valley’ satellite-town on the territory of the Sosnovsky municipal region of Chelyabinsk region in the years of 2008-2024. District area — 4000 ha, buildable area — 1127 ha, population — 116 000 people, housing — 3,2 mln sq. m. Besides housing in the ‘Sunny Valley’ they will build lots of social objects: 41 kindergartens, 23 schools, two policlinics, hospital, emergency center, specialized medical center. Developer will finance completely the construction of the power and heat supply systems. Also the project implies a creation of a number of commercial real estate projects: regional entertainment and shopping center, industrial park, logistic center, business park, congress-hotel etc. In all 25000 workplaces will be created in the new satellite-town.

For implementation of the project Renova StroyGroup Company is intended to attract firm of building contractors of Chelyabinsk region and use to the maximum raw materials, componentry, building materials, produced by the plants of Chelyabinsk region.

Within the frames of the Agreement Chelyabinsk region government engages to provide Renova StoryGroup with the state support in the context of the ‘Chelyabinsk region Investment Stimulation Activities’ Law, render assistance in the implementation of the project by the means of organization of administrative maintainability and assisting the regional budgets in the construction of social objects of o the communal infrastructure. It will also finance the construction of the highways connecting ‘Sunny Valley’ with Chelyabinsk city and co-finance the construction of high-ways, situated on the territory of satellite-town.

‘Sunny Valley’ will be built in 4 stages. First stage (2009-2012) implies building of 421 000 sq. m. of housing, objects of engineer and public utilities infrastructure, highways of the common use, 2 schools, 4 kindergartens, hospital, fire-station, regional entertainment and shopping center and logistic center. Next stages of the project will combine: the construction of more than 2.8 mln sq m of housing, educational centers and infant schools, business-park, congress-hotel, two regional trade centers, emergency center and other objects of social and commercial infrastructure.