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 road projects delayed by funding shortage
    February 9, 2016
    In Russia a series of road projects planned to improve connections to Moscow’s Domodedovo Airport have been cut. The new roads connecting to Domodedovo Airport are required for the 2018 FIFA World Cup. But with Russia cutting its federal budget for road development, the projects have halted. Projects affected include the reconstruction of five sections of the A105 federal highway to the airport, construction of four interchanges and nine pedestrian overpasses. The work was expected to cost a total of US$206
    Read More
  • Russia to become the world’s largest infrastructure market?
    February 20, 2012
    Russia should be one of the largest and most dynamic infrastructure markets in the world over the next 15 years, and now "the time is right to begin a major push." Patrick Smith reports
    Read More
  • Transstroy improving Russia’s aviation infrastructure
    January 21, 2014
    Aviation is playing an important role in developing Russia’s economy and resolving socio-economic issues. It’s particularly important for the country’s role as an international and domestic hub, ensuring the transportation of residents from remote regions
    Read More
  • Foreign investors eye expansion into Russian road-building industry
    March 18, 2016
    The Russian road sector looks set for international investment - Eugene Gerden writes Amid the ongoing recovery of the Russian economy from the effect of Western sanctions, foreign investors are considering accelerating their activities in the Russian road building industry. In recent months the establishment of joint ventures with local road building companies has become no longer as profitable for foreign investors as it was in the past. As a result the majority of foreign investors are considering
    Read More

Highlighted Content