Finance change on Orlovski Tunnel

A change in financing arrangements has been announced by the local authorities in Russian city St Petersburg for the Orlovski Tunnel project. This move is being made due to changes in terms and costs for the project, which is for the construction of a new road tunnel under the city that is intended to alleviate congestion.
July 9, 2012 Read time: 1 min
A change in financing arrangements has been announced by the local authorities in Russian city St Petersburg for the Orlovski Tunnel project.

This move is being made due to changes in terms and costs for the project, which is for the construction of a new road tunnel under the city that is intended to alleviate congestion.

The terms of subsidies from the investment fund are postponed from 2009-2013 to 2011-2015. The cost of the project has increased from €584.6 million to €1 billion.

The authorities in St Petersburg, Russia are pushing ahead with construction of the second stage of the Western High-Speed Diameter (WHSD) highway. Some €472.75 million worth of financing is being supplied by the Federal Investment Fund in all and the work is due to start this year and be completed in 2014.

Related Content

  • Ukraine’s shattered highways
    July 26, 2024
    With no end to its war with Russia in sight, Ukraine is also fighting hard to cope with a growing backlog of major infrastructure projects, especially in terms of rebuilding the country’s roads and bridges. David Arminas reports.
    Read More
  • Road transport key to Africa's trade links
    February 17, 2012
    Road transport is the key to improving Africa's links within its own territory, and further afield as Patrick Smith reports. Development of road transportation is the key to the future of the African economy, and countries on the continent are making great strides. According to a report by a transport infrastructure expert at the New Partnership for Africa's Development (NEPAD), within the next 15 years the value of trade in Africa could reach US$250 billion if a $32 billion investment is made to integrate
    Read More
  • Solving congestion in Brisbane
    August 2, 2012
    Rapid growth in a major Australian city in recent years has created new problems for the infrastructure and especially transport Expansion in the city of Brisbane, the Queensland state capital and the third largest city in the country, is set to continue and some 1,500 people arrive/week from within Australia and from other parts of the world. At this rate by 2026 the city's population should increase by 1.4 million: at present it is 1.8 million. To cope, the Queensland government and city council have ini
    Read More
  • Road construction stimulus for Australia
    July 8, 2020
    A road construction stimulus package is planned for Australia.
    Read More

Highlighted Content