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

  • Key Cambodian construction contract for road repairs
    August 15, 2014
    The Cambodian Government is benefiting from several financial packages aimed at improving the country’s road network. The Asian Development Bank (ADB) is providing a financial support package worth a total of US$118 million that will be used for the Rural Roads Improvement Project II in the country. The package comprises funds from several sources, with a grant worth $5.4 million from the Nordic Development Fund (NDF) and another grant worth $6.67 million from the Australian Government of Australia. It incl
    Read More
  • Funding agreed for Romanian road construction
    March 22, 2012
    Funding worth some €177.5 million from the European Commission (EC) will pay for a highway construction project in Romania. This non-refundable financing will pay for the construction of a 27.4km stretch of the Lugoj-Dumbrava highway. This section forms part of Lugoj-Deva highway that is itself a part of the Pan-European Corridor IV. The highway section will be built by a consortium formed by the Italian companies Tirrena Scavi, Societa Italiana per Condotte d'Acqua and Cossi Construzioni. Meanwhile moderni
    Read More
  • Research highlights Italian construction equipment sector difficulties
    November 16, 2012
    Global turnover recorded by Italian construction equipment companies in 2011 totalled €2.69 billion. Despite their global turnover increasing by 6.4% in 2011 compared to levels achieved in 2010, Italian construction equipment company turnover is still down 42% compared to 2008. Details of Cribis D&B’s findings following research commissioned by the Unacea trade association were revealed during the recent Construction Equipment Day at Ecomondo Fair in Rimini, Italy. Further Cribis D&B figures for 2011 show
    Read More
  • Serbia to tender for Nis-Pristina motorway by end of 2018
    March 6, 2018
    The first tender for construction of the Nis-Pristina motorway could be called by the end of his year, according to Zorana Mihajlovic, Serbia’s minister of construction. Value of the first phase of the project is estimated at €240 million. Around 20% of the amount will be financed from aid, while the remainder will be secured by the EBRD (European Bank for Reconstruction and Development) and the EIB (European Investment Bank).
    Read More

Highlighted Content