The Chernobyl Shelter Fund was established in 1997 at the Denver 23rd G8 summit to finance the Shelter Implementation Plan (SIP). The plan calls for transforming the site into an ecologically safe condition by means of stabilization of the sarcophagus followed by construction of a New Safe Confinement (NSC). While the original cost estimate for the SIP was US$768 million, the 2006 estimate was $1.2 billion. The SIP is being managed by a consortium of Bechtel, Battelle, and , and conceptual design for the NSC consists of a movable arch, constructed away from the shelter to avoid high radiation, to be slid over the sarcophagus. The NSC was moved into position in November 2016 and is expected to be completed in late-2017.