Russian financier plans $300 mil studio

Uralsib co-owner Nikolai Tsvetkov plans complex

MOSCOW -- Nikolai Tsvetkov, co-owner of Russian financial group Uralsib, has announced plans to build a $300 million studio complex outside Moscow.

Studios will be used for both movie and television production, and Tsvetkov's company, Znak, plans to launch its own film production outfit, but no further details have been revealed.

The complex is expected to start operation in two to three years. Earlier this year, the First Channel announced plans for a $1.4 billion media park outside Moscow.