A mysterious Russian billionaire is building a yacht, worth 140 million pounds, in Genoa. It boasts seven decks, two helicopter pads and storage space for a submarine, the High Chic website reports. The future owner’s name is kept secret, but it is not Roman Abramovich, the well-known Russian owner of the Chelsea Football Club.

Britain’s Sunday Telegraph reported that the yacht, which is to be completed in 2010, measures 438 feet long. It will have a 60-strong crew to entertain guests in 15 state rooms fitted with the latest entertainment systems, gold and marble bathroom fittings and Jacuzzis.

The vessel’s top deck will be divided into three areas; an arch with a heli-platform, an enclosed gym with 360 degree views and a sun deck.

As work on the vessel — known only as “Hull 6154” - began on Saturday, March 10, experts predicted the project will spark a battle between billionaires who see so-called “giga-yachts” as the ultimate status symbol.

Nick Griffiths, the managing director of Ancasta, one of Europe’s largest yacht brokers, said Hull 6154 was generating “a huge buzz” in yachting circles.

“The market is awash with super yachts being built right now and it’s the Russians who are driving it,” he said. “For them it is all about who has got the longest boat, the highest mast and the best fittings. From my experience, the Russian oligarchs are prone to building these boats as status symbols. Often they are more enthusiastic about the elaborate design of the boats than what they use them for.”

Hull 6154, which is being built by Fincantieri, one of the world’s leading yacht builders at its base in Genoa, was commissioned through London-based Camper and Nicholsons International, one of the leading brokerage companies on the yachting market. The interiors are being designed by the British-based designer Pascale Reymond. The name of the client remains a secret.

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