The Russian government has hired Goldman Sachs to advise it on the project, the Financial Times reported citing people familiar with the matter.

Separately, to advise it President Dmitry Medvedev on transforming Moscow into an international financial centre, a special committee will also be created, according to the Financial Times report.

Lloyd Blankfein, CEO of Goldman; Steve Schwarzman, founder of Blackstone; Jamie Dimon of JPMorgan Chase, and Brian Moynihan of Bank of America, as well as representatives from BNP Paribas and UniCredit among others are expected to be part of the advisory committee.

According to the report, the firms that have been approached include Apollo Management, Blackstone and Carlyle.

Middle East sovereign wealth funds have also been approached, according to the report.