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

  • Investment for Brazil’s Sao Paulo ring road
    June 8, 2012
    A new loan has been approved that will help finance works on the northern stretch of the Sao Paulo ring road in Brazil. The US$1.15 billion loan is being provided by the Inter-American Development Bank (IADB). Approval for the IADB loan has come from Brazil’s Committee for Economic Affairs (CAE) at Brazil's Senate. The loan will finance construction of the Rodoanel Norte stretch of the ring road. This measures some 44km long and will connect with the west and east sections of the ring road as well as linkin
    Read More
  • Moldovan highway upgrade project
    March 1, 2012
    Moldova's state road administration is opening the tender process for the selection of a consultant to manage a major road rehabilitation project.
    Read More
  • Russia ploughs ahead with road expansion
    October 14, 2022
    Despite Western economic sanctions, Russia plans a record road building programme up to 2027, as Eugene Gerden reports
    Read More
  • Nicaraguan investment
    April 25, 2012
    Loans worth at least US$110 million will help fund road projects in Nicaragua in agricultural areas. The Central American Bank for Economic Integration (CABEI) will provide Nicaragua with a short term loan of close to $61 million for a series of improvements to the national road network, some 11 sections overall. A further $50 million is already available, with another $11 million due in the week commencing 23 November 2011. In addition an extra $50 million will come from the World Bank (WB) and CABEI for r
    Read More

Highlighted Content