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

  • Serbia upgrading infrastructure
    March 16, 2012
    Serbia has managed to reduce the cost of building the Corridor 10 highway by €80 million. These funds will instead be used to pay for upgrades and improvements needed for the second section of the highway project, close to Neradovci.
    Read More
  • EU Commission adopts plan for €50 billion boost to European networks
    May 2, 2012
    The European Commission has tabled a plan which will fund €50 billion (US$68.7 billion) worth of investment to improve Europe's transport, energy and digital networks. It has also announced the Europe 2020 Project Bond Initiative which will be one of a number of risk-sharing instruments upon which the facility may draw in order to attract private finance in projects.
    Read More
  • Construction delays affect Bosnian highway project
    May 10, 2012
    In Bosnia, delays have affected the construction work on the country’s key Corridor 5c highway project. So far 37km of the 336km Corridor 5c highway has been built, with 21km under construction and a further 43km section being cleared for work to commence. Construction work on a section of the Corridor 5c highway is set to commence by the end of September 2011. The section of highway being built is located in Ljubuska and Capljina, with work staring on the 4km Kravica-Bijaca and due for completion in 10 mon
    Read More
  • AVTODOR seeks another Moscow-St Petersburg motorway section bid
    December 18, 2014
    Russia's state highways agency AVTODOR has invited bids for construction of another section of the Moscow to St. Petersburg toll motorway. Starting cost of the bid to build the section from kilometre 58-149 is nearly US$1.2 billion. Investors will have to put up front 20% of the accepted bid cost to build the 91km section. Construction of the 700km motorway is being let in sections, with highly competitive bids coming from the major international players in highways infrastructure. In February 2014
    Read More

Highlighted Content