The authorities in the Russian city of St Petersburg are setting aside funds for road construction and repairs for 2012.
The authorities in the Russian city of St Petersburg are setting aside funds for road construction and repairs for 2012. The budget is expected to reach US$607.45 million and will be paid for by transport tax returns. However, industry sources suggest that the city authorities would require up to $1.42 billion to fund the work needed. Construction of the new St Petersburg-Moscow toll road is well underway and environmental issues over a particular stretch have been dealt with, according to the authorities. Much of the highway will feature concrete construction, to help deal with the country's severe temperature gradient which sees high temperatures in the summer and low temperatures in winter. In addition, work is ongoing for the new ring road around St Petersburg. Construction of the Orlovsky Tunnel in St. Petersburg will commence in Autumn 2011. The concession holder Nevskaya Kontsesionnaya Kompania will have to first obtain final approval of the State Expert Evaluation Department (Glavgosekspertiza). The company will invest $1.59 billion in the tunnel, which will feature two decks for traffic and provide access to the Ring Road. Nevskaya Kontsesionnaya Kompania will announce the contractor carrying out the construction work by the end of summer 2011. At present, Nevskaya Kontsesionnaya Kompania is holding discussions regarding financing of the project with Sberbank and VEB. The city plans to completely open the tunnel to traffic in 2016.
