The project on world fair EXPO 2020 in Yekaterinburg is estimated to require about $10bn, RIA Novosti quotes Director of EXPO 2020 Application Committee Eric Bugulov as saying.

’50% is expected to be provided by the state, while the remaining half is to be contributed by businesses,’ Bugulov said at the business forum The Future of The City.

He explained most of the money ($7bn) would be directed to the creation of the infrastructure in Yekaterinburg: transport, parking lots, the underground, and other facilities.

The decision on where to hold the world fair will be voted for at the BIE General Assembly in late 2013. Yekaterinburg and Sverdlovsk Region authorities are already working on increasing the city’s chances to become the host of the international event, RIA Novosti says.