An inquest has opened into how millions, earmarked for the restoration of the ageing Bolshoi Theatre in Moscow, Russia, have gone missing.

The theatre closed in 2005 in order to undergo a massive RUB22.3bn (US$730m, £496m, €443m) redevelopment and was originally scheduled to open later this year. However, problems with the project have lead to the reopening being pushed back until at least 2011, although some sources claim that the project will not be completed until 2013.

Adding to the issues with delays in works, it is now suspected that vast amounts of money reserved for the restoration project have gone missing.

Officials from the country’s general prosecutor's office said they have opened a criminal investigation into the misuse of funds and one of the companies being probed is the firm appointed to renovate the theatre, Kurortproekt.

The funding for the work is being provided entirely by central government money.