Russia spends nearly $ 3 billion on

This 'Silicon Valley' is the Skolkovo research center located near Moscow. Billionaire Viktor Vekselberg is one of the people selected to participate in the project.


" The government is ready to pour 85 billion rubles ($ 2.8 billion) over the next 3 years for building the center, " RIA Novosti news agency quoted Viktor Vekselberg - Renova Group president. . Earlier some newspapers reported that the center's construction cost was only about 1.8 billion USD.

Skolkovo Research and Science Center is located 20km from Moscow, focusing on five areas: energy, information technology, telecommunications, graduate students - medicine and nuclear technology.

Recently, a US business delegation led by California governor Arnold Schwarzenegger visited Skolkovo with President Dmitry Medvedev - who was very interested in developing high-tech fields for Russia.