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Hunt on for private investors; marina to accomodate over 500 boats

Well-known Russian business woman Ksenia Shoigu, daughter of Russia’s Minister of Defence, Sergey Shoigu, is spearheading the implementation of a major new project involving the building of an ’Island of Forts’ – to comprise a tourism and boating cluster in Kronstadt, a Russian port city located on Kotlin Island, 30km (19m) west of St Petersburg, near the head of the Gulf of Finland.

Sources close to the investor, say the project will create the world’s largest city-museum and will be the largest development in Russia after the Olympic construction in Sochi in 2010-2013. Total volume of investments in the project is expected to range from RUB 36bn-RUB 45bn (US$467m-US$584m), and will be funded both from the state budget and private investors.

At the heart of the project is a large marina, designed to accomodate 552 boats. It will be built as part of the agreement, signed by Shoigu and Russian billionaire Oleg Deripaska, back in 2019, with construction works expected to get underway soon. In addition to the marina, the complex will also feature a historical park, a naval museum, multifunctional training and sports facilities, an exhibition venue and other infrastructure.

Unique to the site are three UNESCO heritage attractions – the forts of Peter I, Kronshlot and Alexander I, which were built in the middle of the Gulf of Finland in the 18th-19th centuries as part of the defense system of St. Petersburg.

The project is also part of the existing program for the development of domestic and inbound tourism in Russia until 2025.

Ksenia Shoigu is currently continuing her search for private investors for the project – among them could be Kievskaya Ploshchad, one of Russia’s leading developers.

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