"The construction stage will begin in 2019, most likely. The technical specifications are being prepared, the design stage should begin in May, it should be designed this year, and the building stage begins next year," Donskoy said.
The minister stressed that the floating observatory will be unique and difficult to build.
St. Petersburg-based Admiralty Shipyards signed a contract on the design and construction of the platform with Russia's Rosgidromet meteorological service in late April.
The platform will be used for year-round research in the Arctic Ocean.
Previous year, the Treasury Department announced their restrictions for any US support of Russian exploration or production for deepwater, Arctic offshore, or shale projects except for financial services.