The Russian company building Europe's tallest building has halted work on the project, citing the global financial crisis.
The Norman Foster-designed Russia Tower being built in Moscow's new central business district by developer Russian Land would be 600m (1,970ft) high.
Company head Shalva Chiriginsky said that work was being halted because of the credit crunch.
Norman Foster and Partners told the BBC it had not been informed of the freeze.
The tower was due to be completed by 2012 as part of the new business district dubbed Moscow City. Building work started in September 2007.
It would have 118 floors with housed offices, a five-star hotel and residential apartments.
As China's growth rate continues to slow, there are fears that its economy could be heading for a severe downturn.
The BBC spoke to a shipping employee in Shenzhen and a geologist's assistant outside Lhasa to find out how the financial crisis had affected their lives.
FULL STORY HERE
We've seen dramatic changes to our export-related business here in Shenzhen since the global financial downturn started. If you compare this year to last year, the volume of exports from the port of Yatian has plunged.
(snippet)
Job-wise, the sense of crisis is constantly there because there is every chance that the company will go under
Take our shipping company for example; this time last year, we were handling something like 100 to 200 containers a week, but this year, it has dropped by more than a half.
Export factories face a really depressing future. Unofficial estimates show that 20% of export companies have closed down, the actual figure could be even higher
This is most wonderful article
ReplyDelete