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

  • Vietnam's new bridge deal
    February 14, 2012
    Funding and assistance from Australia, South Korea and the Asian Development Bank (ADB) will help finance key road and bridge projects in Vietnam.
    Read More
  • Japanese funding for Honduras bridge project
    February 2, 2024
    Japanese funding will help pay for a Honduras bridge project.
    Read More
  • Contractor Strabag reports strong performance
    April 30, 2013
    Austrian contractor STRABAG reports healthy earnings before interest and taxes (EBIT) of €207 million in 2012. This figure beats the firm’s own expectations and the expectations of the market. Net income after minorities stood at €61 million, showing an expected considerable decrease of 66.67% compared to the year before. “An output volume of €14 billion in 2012 – that’s nothing to complain about. With €13.2 billion, the end-of-the-year order backlog is also nearly exactly at the pre-crisis level of 2008, s
    Read More
  • Challenges and investment opportunities in East Africa transport infrastructure Sector
    November 21, 2014
    East Africa offers considerable potential for transport infrastructure expansion and investment - Shem Oirere reports Infrastructure, infrastructure and more infrastructure is what is needed to make East Africa the favoured destination and Kenya, Tanzania, Uganda and Rwanda have unveiled grand plans to enhance the infrastructure both nationally and regionally.” This is how market analyst Deloitte introduced its 2014/15 budget analysis for the four countries in July.
    Read More

Highlighted Content