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.
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