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

  • Galliford Try aims to downsize its construction business
    April 25, 2019
    UK construction and infrastructure business Galliford Try is reviewing its construction business with a view to downsizing. “The review will reduce the size of the construction business, focusing on its key strengths in markets and sectors with sustainable prospects for profitability and growth, where we have a track record of success,” the company said in a written statement. “The board anticipates that this review will result in reduced profitability in the current year reflecting a reassessment of
    Read More
  • IRF World Congress: Road user charging
    October 16, 2024
    Where will the money come from to develop and maintain tomorrow’s sustainable road network, no mater in what nation? This was the focus of another session at the IRF World Congress in Istanbul of day of the three-day event.
    Read More
  • Second Danube bridge construction approved
    May 15, 2012
    Official approval is now being given for changes to the agreement between the Bulgarian authorities and the European Investment Bank (EIB) for the second Danube bridge project. So far the EIB is providing €50 million, with €5 million having already been used. The Bulgarian authorities are agreeing to accept a shorter loan period of 14.5 years rather than the 17-year term originally agreed with the EIB.
    Read More
  • Deutsche Bank and Akbank among banks to fund Gebze-Izmir motorway
    March 19, 2015
    A final financing agreement for Turkey's 421km Gebze-Izmir motorway project will be signed by nine banks, eight of which will be Turkish, in April. The agreement will be for around US$4.73 billion of the deal likely to cost in total more than $6 billion and which is the country’s largest public-private partnership project. The banks are Deutsche Bank and Turkish banks Akbank, Garanti Bankasi, Finansbank, Is Bankasi, Halkbank, Ziraat Bankasi, Yapi Kredi and Vakfbank. Work has been going on since 2010 for the
    Read More

Highlighted Content