"We are proposing to the mayor's office that we build the Russia Tower to its original specification," Mirax Group chief Sergei Polonsky told reporters, adding that the company had already consulted investors on the project.
The project in the Moscow City development on the banks of the Moskva River in the west of the Russian capital has been delayed until at least 2016, four years behind schedule, over financing problems. Proposals have been made to cut the height of the skyscraper - planned at 612.2 meters (2,009 ft) - to reduce investment.
Shalva Chigirinsky, head of the tower's development company, said late last year the credit crisis had left him unable to secure investment and cut demand for the tower's office space, even if the building were to be completed.
Sibir Energy, in which Chigirinsky is a major shareholder, dropped plans late last month to buy the entrepreneur's real estate assets, including 50% in the tower. The oil firm planned to pay Chigirinsky $127 million, and take on $213 million of his debt.
Polonsky said Mirax could buy Chigirinsky's stake in the project for $48.5 million, the amount he had asked from Sibir Energy. But he said the company would get the Moscow government's opinion before discussing the deal with Chigirinsky.
Polonsky said the purchase of the Russia Tower would allow Mirax extend parking area in its own projects in the business center, including the rival Federation Tower. He also said the Mirax projects in the center would not look complete without Chigirinsky's skyscraper.
He said the company's talks with Chigirinsky 18 months ago had brought no results.
