OREANDA-NEWS. August 16, 2012. Viktor Vekselberg’s Renova Group has begun construction of the Renova Lab at the Skolkovo innovative centre under an agreement signed earlier by Renova and the Skolkovo Foundation.

The RUR2bn (USD 61.6mn, or €49.15mn) investment in the R&D facility will be made by the venture fund Navi Capital Management Inc, a special vehicle for innovative high technology projects.

By 2014, Navi Capital is to construct a number of three and five storied buildings at the site, with a footprint of 20,000 sq m. The laboratories for more than 600 researchers will be divided into three technological zones including mechanical engineering and metal working, microelectronics and biotechnology.

Renova Lab’s 2013-2015 operating budget will amount to some RUR3.3bn (USD 101.6mn, or €81.1mn).

The ambitious Skolkovo project launched in the fall of 2010 is to focus on research in five priority spheres: energy, information technology, communications, bio-medical research and nuclear technology.-