Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

VTB Capital Venture to Invest $2.3 Billion in Road Construction

Dec. 20 (Bloomberg) -- LLC Northern Capital Highway agreed with the St. Petersburg city administration to invest 70 billion ($2.3 billion) rubles to build the central part of a highway connecting the city’s north and south districts.

The road needs to be completed by the end of 2015, the administration of Russia’s second-largest city said in a statement today. The remaining cost of the 212 billion-ruble project will be covered by national and local budgets.

Northern Capital will manage and collect fees on the road for 30 years. Vnesheconombank, Russia’s state-development bank, will provide 25 billion rubles of the loan, the city said in the statement.

Northern Capital is a venture of VTB Capital Plc, OAO Gazprombank, Astaldi SpA, IC Ictas Insaat ve Ticaret AS, and Mega Yapi Insaat ve Ticaret Ltd.

To contact the reporter on this story: Anatoly Temkin in St. Petersburg at atemkin@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.