Ural State University of Economics is planning to start working on a new study/lab facility as soon as this year. The decision is stated in the university’s Property Development Program approved of by the Learned Council, USUE’s Rector Mikhail Fedorov told UrBC.

According to the Rector, the facility is needed in order to introduce new trends into the educational process, namely, biotechnologies and the communal housing services and utilities development center, as well as in order to support the Eurasian Youth Movement.

‘Three wells are about to be finished at the moment. If everything goes well, we’ll renew our construction permit and will proceed to putting up the frame of the building. The construction site is already fenced out for work,’ Fedorov said.

All in all, the Property Development Program for 2012 is estimated at 100m RUR. At the moment, this money comes from the college’s own funds only.

USUE Rector also said that no money was currently available for the new study/lab facility or the youth center.

‘We haven’t got the right environment for attracting investors. This is why we turned to a simpler version of the program for the time being. To start with, we’ll renew the construction of the study building, then we’ll go on to look for the funds to put up a congress hall,’ the Rector said.

Now the university’s Rector’s Office suggested in late 2011 that all the three study buildings in Vosmoye Marta St should be pulled down and a new building and the Eurasian Youth Movement center be put up there instead. The project was evaluated at 6bn RUR.