St Petersburg: bypass road swap for parking lots?

The Russian city of St. Petersburg is interested in the LSR group's offer to construct a bypass road around the centre of town in exchange for development of paid parking lots. Construction cost of the bypass is likely to be nearly US$638 million, according to Russian media reports. The parking lot investment would be around $168 million. The pay-back period for LSR, a major Russian property development company, is expected to be 25 years. Apart from banks such as VTB, potential private sector partner
August 7, 2015 Read time: 1 min
The Russian city of St. Petersburg is interested in the LSR group's offer to construct a bypass road around the centre of town in exchange for development of paid parking lots.

Construction cost of the bypass is likely to be nearly US$638 million, according to Russian media reports. The parking lot investment would be around $168 million. The pay-back period for LSR, a major Russian property development company, is expected to be 25 years.

Apart from banks such as 3012 VTB, potential private sector partners include the Leader management company. The deal would be completed by tender.
Finance & Funding

For more information on companies in this article

VTB

Related Content

  • Russian road contracts for Moscow and St Petersburg
    June 24, 2019
    Two major road projects are being planned for Russia’s first and second cities, Moscow and St Petersburg. Bidding is opening for the project to build a stretch of Moscow’s North-East Expressway. The work is expected to cost around US$780.6 million and includes building five viaducts and three bridges, as well as rebuilding the existing Novosavinovsky Bridge. Meanwhile in St Petersburg, construction work for the Eastern High-Speed Diameter (VSD) is now being held back until 2022 at the earliest. The work i
    Read More
  • Opening St Petersburg's key tollway ring road
    May 15, 2012
    A new section of Western High Speed Diameter (WHSD) highway from the Ring Road (KAD) to the Hyundai plant in Kamenka, has been opened to traffic in St Petersburg. The WHSD and KAD interchange will be completed by 2012 when the entire third phase of the highway will be built. The US$7.23 billion WHSD Tollway in the city is sponsored by the Federal Road Agency and it is said to be one of the most important means of solving the city’s transport problems. It is a strategic investment project to develop the ci
    Read More
  • Slovakia’s D4/R7 zero bypass of Bratislava picks up award
    February 10, 2017
    Slovakia’s D4/R7 zero bypass of Bratislava has picked up the Best Transaction in Europe award given by the UK magazine Project Finance International. The Ministry of Transport and Construction received the award in London in early February. The ministry said that the contract is notable for being the first whereby a project had combined funding from European Union investment and structural funds and the EU fund for strategic investment. World Highways reported in January that construction will start early
    Read More
  • Russian road projects for St Petersburg and Moscow
    May 16, 2018
    Contractor VAD now looks likely to carry out rebuilding work for the northern stretch of St Petersburg’s Ring Road. This section of the ring road runs between the Priozerskoye Highway and the Western High-Speed Diameter route. VAD’s bid for the 14.3km stretch has received approval from the tender commission. The work will cost just over US$100 million to be carried out and should be complete by November 2020.
    Read More

Highlighted Content