MOSCOW, RUSSIAN FEDERATION.-Russia and China just signed an agreement for the construction of Moscow’s tallest skyscraper. The Chinese construction company will carry out the work for the “installation of the reinforced concrete framing of Tower A of the Federation Tower complex in Moscow”. A representative of the Chinese company said that the tower, which will be 340 meters (1120 feet) high, will become the tallest skyscraper not only in Russia, but in Europe.

The construction of the 87-story tower is expected to begin in November 2005 and will be finished in Oct. 2007. According to the contract the cost of the Chinese company’s work will amount to $58 million. The total cost of the project is estimated at $530 million. The agreement signed by the two sides is the largest construction contract in the history of Russian-Chinese relations.