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

  • Bangladesh moves forward with US$735 million highways programme
    August 5, 2021
    A massive highways development programme is being planned in Bangladesh
    Read More
  • Turkey is investing in new motorway and bridge projects
    May 29, 2013
    Turkey is benefiting from new motorway and bridge projects constructed along the BOT model - Gülay Malkoç. Looking at Turkey’s economic development, road construction plays a crucial role. The investment in Turkey is becoming increasingly attractive for both local and foreign investors. There are significant huge road investments and projects being made in Turkey at present, compared with EU countries where the roads need mostly repair and maintenance. According to the approach of Turkey’s Ministry of Trans
    Read More
  • Florida highway rebuild project
    May 2, 2018
    Rebuilding a congested stretch of highway in Florida will cut congestion and boost safety for commuters - Mike Woof writes. Florida’s 214km-long I-4 highway provides a key transport route between Tampa and Daytona Beach, but has an unenviable reputation for both congestion and safety, with frequent delays due to heavy traffic as well as crashes. The stretch running through the city of Orlando is particularly prone to jams at peak periods, with huge traffic volumes resulting in vehicles having to slow to a c
    Read More
  • UK Highways Agency unveils additional spending plans
    April 12, 2013
    In the UKL the Highways Agency has announced plans for an additional 58 schemes intended to boost the economy, reduce congestion and improve safety. These schemes form part of the third, and final, stage of the Highways Agency’s pinch point programme. The 58 schemes represent an investment of €114.6 million (£98 million) and are intended to remove bottlenecks and keep traffic moving on England’s motorways and major A roads. They will be delivered by March 2015 and will bring an estimated €1.64 billion (£1.4
    Read More

Highlighted Content