An old Russian submarine that was used as a floating museum in Providence until it sank two years ago has been moved to a new location to be dismantled for scrap metal.

The 282-foot-long submarine, known as Juliett 484, was moved about 1,000 yards Tuesday from the waterfront park that has been its home to land owned by Rhode Island Metals Recycling.

It would have cost $1 million or more to restore it as a museum.

Frank Lennon, director of the Russian Sub Museum, says the money raised from selling it for scrap will be used to help open another maritime-related attraction in Rhode Island — the USS Saratoga Museum.

Some of the sub's equipment, such as periscopes and missile firing stations, will be removed and saved for a future display about Soviet Cold War-era submarines.