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

  • UK’s M6 tolled motorway for sale
    June 21, 2016
    For sale: one UK toll motorway along with operating business. Well maintained. Price negotiable. David Arminas looks at what is on offer As if right on cue, a French articulated truck starts to back up along the hard shoulder at an exit area of M6toll. The manoeuvring is watched from an office inside the nearby M6toll headquarters. Inside, Andy Pearson, chief executive of M6toll, glances over his shoulder and interrupts his presentation to World Highways. “He’s probably missed the dedicated wide-load
    Read More
  • Road user charging to pay for road improvements?
    February 20, 2012
    What is the current situation with Russian roads? It is an objective answer to this question that is contained in the official report of the Federal State Statistics Service for 2009. Here it states: "...public roads are of poor quality: 8.4% of roads accounted for groundwater, nearly a third of roads are gravel, rubble or cobblestone.
    Read More
  • Expectations for growth of UAE infrastucture
    February 9, 2012
    The INTERMAT Middle East event is being launched at a pivotal time of major infrastructure development in the region. As with most sectors, the highways industry has not had a fantastic 18 months in the Gulf. Not only has the recession impacted the delivery of projects across the board, GCC Governments' attention have been switching increasingly to rail, as plans to roll out a Gulf-wide rail system gather steam. GCC countries will invest over US$119.6 billion in infrastructure projects over the next decade
    Read More
  • St Petersburg city centre to get ‘highway frame’
    August 23, 2012
    Local government leaders in the Russian city of St Petersburg have announced plans for a ‘highway frame’ around the historic city centre. The highway with uninterrupted traffic flow will connect the Primorsky district to Obvodny Canal with an entrance to Western High-Speed Diameter. The project offers to resume bridge construction across the Malaya Neva from Petrogradskaya Storona to Vasilyevsky Island, to reconstruct Obvodny Canal embankments, and to build a highway with a bridge in range of Fayansovaya an
    Read More

Highlighted Content