From Zonk’s /. post:

NewsForge (also owned by OSTG) has word of Google’s newest product: an open-source project repository. Joe ‘Zonker’ Brockmeier sat down for a talk with Greg Stein and Chris DiBona, who say that the product is very similar to sites like SourceForge but is not intended to compete with them.

Read the NewsForge article for more details.