MOSCOW, October 20 - RAPSI. The Moscow government will cancel investment contracts that could aggravate traffic congestion in Moscow, Moscow Mayor Sergei Sobyanin told journalists on Thursday.

"We are presently reviewing the investment contracts and terminate them if they don't benefit the city. The courts are now hearing dozens of cancellation cases," he said.

While speaking at the Moscow City Council on Wednesday, Sobyanin said that the Moscow government has entered into 1,300 investment construction contracts. So far, 600 have been revised and 200 - worth over 35 billion rubles ($1.1 billion) - have been canceled. He added that the terminated contracts stipulated the construction of over 7 million square meters of shopping and office space.