Russia transport infrastructure cash for 2018 FIFA World Cup

New transport infrastructure in Russia will be created from a US$4.178 billion (RUB 130bn) federal budget pot for boosting transport, energy supply, communications, utilities, and safety infrastructure ahead of the country hosting the 2018 FIFA World Cup. Meanwhile, a further US$3.857 billion (RUB 120bn) is to be spent on the reconstruction of sport facilities ahead of the international football showpiece event. To pay for the huge infrastructure spending the Russian government is reported to have ordered
May 7, 2013 Read time: 2 mins
New transport infrastructure in Russia will be created from a US$4.178 billion (RUB 130bn) federal budget pot for boosting transport, energy supply, communications, utilities, and safety infrastructure ahead of the country hosting the 2018 FIFA 1556 World Cup.

Meanwhile, a further US$3.857 billion (RUB 120bn) is to be spent on the reconstruction of sport facilities ahead of the international football showpiece event.

To pay for the huge infrastructure spending  the Russian government is reported to have ordered the Sports Ministry, the Ministry of Regional Development, the Finance Ministry, the Ministry of Communications, the Energy Ministry, and other institutions to look at the possible use of money from the National Wealth Fund, which accumulates funds to cover deficit in the country’s Pension Fund.

The Moscow Airports may require additional financing. Amendments to the program of 2018 FIFA World Cup preparations must be introduced until 22 May 2013. The National Wealth Fund had RUB 2.70tn as of 1 April 2013. The infrastructure programme was due to be approved and launched in June 2013.

For more information on companies in this article

Related Content

  • Russian construction machine exhibition for 2019
    December 18, 2018
    Plans are in hand for the bauma CTT RUSSIA 2019 construction machinery exhibition, which will be held in Moscow from June 4th-7th 2019. Registration is now underway for the event, claimed to be Russia’s most important construction equipment and technologies trade fair. The event will be held at Moscow’s Crocus Expo IEC and this show will be of special note as it will be the 20th anniversary of the exhibition. The organisers point to Russia’s positive economic market due to planned infrastructure expansion a
    Read More
  • Uruguay’s transport investment is seeing major gains
    August 1, 2017
    Uruguay’s road development programme will help deliver economic growth for the future - Gordon Feller reports. Uruguay is embarking on a new nationwide programme to rehabilitate 890km of roads, and the government intends to improve an additional 260km of dangerous highways and roads. This three-year programme aims to reduce traffic accidents, in part thanks to a US$70 million loan recently authorised by the World Bank’s board of directors. The new operation uses a special financing instrument known as “Prog
    Read More
  • Russia plans major infrastructure investment
    May 4, 2012
    The Russian highway authorities intend to invest a massive €16.78 billion (US$24.23 billion) in road construction and repairs during 2011. This investment will come from federal and regional budgets and represents a 40% increase over spending made in 2010. The plans involve repairs to 5,500km of road surface at a cost of €2.11 billion ($3.046 billion).
    Read More
  • Brazil’s road budget bubble bursting?
    March 30, 2016
    A shortage of funds could affects Brazil's road infrastructure plans. The country’s national department of transport infrastructure, Dnit, may have to halt activities in 2016 due to a lack of funds. Dnit manages the maintenance of existing roads in Brazil but has already had to suspend road paving and expansion works throughout the country due to a lack of finances. Unless further funds are found, Dnit will only be able to finance projects until August 2016. Dnit saw its budget for 2016 set at US$1.76 billi
    Read More

Highlighted Content