VTB to Invest 305 M USD into St. Petersburg LRV Projects

VTB signed a Memorandum of Cooperation with St. Petersburg, the Gudok quotes St. Petersburg Administration. Under the MOC the parties would develop the city’s transport infrastructure.

VTB would invest not less than 20 B RUB (305.6 M USD) into transport infrastructure development in St. Petersburg. VTB Chairman Andrey Kostin noted that the priority for both the parties is building two lines of light rail vehicle. One is to link Kirovsky Plant with Peterhof and the other will link the Pulkovo Airport and the Kupchino Metro Station.

The design documentation for the LRT Line 1 has already been completed. The 11-km line is designed for 50 km/h operation. The project is worth of 30 B RUB (458.4 M USD) with 3 years ROI.