EBRD funding for St Petersburg project?

The European Bank for Reconstruction and Development (EBRD) intends to provide a US$277 million (€200 million) loan to the Northern Capital Highway consortium, which will build the central 11.5km section of St Petersburg’s Western High Speed Diameter (WHSD) route. The EBRD’s board of directors has said will consider the loan on 14th February 2012. The finance package is of note as Russian road projects have largely found funds from other sources so far. The Northern Capital Highway consortium estimates the
April 27, 2012 Read time: 2 mins
The 1166 European Bank for Reconstruction and Development (EBRD) intends to provide a US$277 million (€200 million) loan to the Northern Capital Highway consortium, which will build the central 11.5km section of St Petersburg’s 3639 Western High Speed Diameter (WHSD) route. The EBRD’s board of directors has said will consider the loan on 14th February 2012. The finance package is of note as Russian road projects have largely found funds from other sources so far. The Northern Capital Highway consortium estimates the total project cost at $3.41 billion (€2.46 billion), of which the investor should provide at least $2.67 billion (€1.92 billion). Meanwhile during 2012 the authorities in the Irkutsk region (Siberia) intend to invest U$159.5 million (€115.5million) for road construction, repair and upgrade work. The funds will be issued from the regional Road Fund. This represents a more than three-fold increase from the sum spent in 2011. And in the Ulyanovsk region (Volga), some $257 million (€186 million) will be allotted during 2012 for road repair and construction The biggest project in 2012 will be reconstruction of the highway Ulyanovsk-Dimitrovgrad-Samara.

For more information on companies in this article

Related Content

  • Russia’s most expensive road project to commence
    January 15, 2019
    Construction work is being planned for Russia’s most expensive road, which will be built in south of the country – Eugene Gerden reports Work is due to commence shortly on Russia’s most expensive road, in the south of the country. The highway will form part of the existing 1,600km Moscow-Sochi road, according to recent statements from senior officials at the Russian Ministry of Transport as well as local analysts. As part of the project, the Russian Government, together with private investors, plans to
    Read More
  • Poland's big transport plans
    July 6, 2012
    The European Investment Bank (EIB) looks likely to grant Poland a loan of €1.6 billion to carry out several key infrastructure projects. Some of the money will be used to finance the A2 highway from Lodz to Warsaw; Warsaw's southern ring road and a 50km section of the A4 highway to link with Germany.
    Read More
  • Russia seeks outside investment in road building
    November 6, 2012
    The Russian road building industry is on the verge of big changes as it bids to improve quality and speed of construction says Eugene Gerden The Russian road building industry is on the verge of big changes as the national government considers creating conditions to attract foreign companies to build roads in the country. According to a recent order of President Vladimir Putin, due to poor quality and high cost of road construction, there is a need for the development of a mechanism to attract foreign compa
    Read More
  • New highway investment for Moscow
    September 16, 2014
    A series of highway projects are either underway or being planned in Russian capital Moscow. Russian road authority Avtodor is inviting bids for construction and maintenance of the Central Ring Road's fifth start-up facility in the Moscow region. The road section will be 76km long and the concession package will be for 24 years. The maximum price of the contract has been set at US$1.14 billion. Is also opening bids for construction of the M11 Moscow-St Petersburg motorway's 208-258 km section. The project w
    Read More

Highlighted Content