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

  • Russian bypass projects under construction
    October 5, 2018
    The Russian government is starting a major programme of building bypasses around large cities during the current financial year – Eugene Gerden writes The Russian government is starting a massive programme of building bypasses around the country’s biggest cities during this financial year. The aim is to address the problems of traffic jams and speeding traffic on federal routes, according to recent statements by the Russian Presidential Administration and some senior officials from the Ministry of Trans
    Read More
  • Increased spending for St Petersburg roads
    May 21, 2012
    The authorities in the Russian city of St Petersburg will spend some US$514.6 million on road construction and reconstruction during 2012. The city authorities will use public and private partnerships to push ahead with planned road infrastructure projects. Private investors will be invited to participate in construction of two highways with bridges across the Neva River, a highway with a bridge at the intersection of Fayansovaya and Zolnaya streets, and the Northern highway #7 connecting Arsenalnaya embank
    Read More
  • Rotenberg’s Mostotrest to fight for $5 billion Russia’s road-building contract
    December 2, 2013
    Interest is strong in one of Russia’s premier projects for road infrastructure - Eugene Gerden reports The State Company Russian Highways (Avtodor) has officially announced a tender for the construction of the sixth - and longest - section of the Moscow - St Petersburg highway. Avtodor is Russia’s leading company in the field of development of national road infrastructure, while this is one of the largest and most controversial projects in Russian road building in recent years. The 6th section of the
    Read More
  • Transstroy’s ambitions for Sochi 2014 Olympics and beyond
    September 30, 2013
    Igor Pankin is CEO of Transstroy, one of Russia’s largest transport infrastructure construction companies, a part of Oleg Deripaska’s Basic Element group. Created in 1992, the company has completed major construction projects with a combined worth of more than €4 billion (RUB 121 billion) The Olympic motto, ‘Swifter, Higher, Stronger’, is very appropriate for the Sochi 2014 Winter Olympics – and not just in reference to the action in its stadiums and on its slopes. The city has been transformed from a small
    Read More

Highlighted Content