VEB.RF joined the syndicate of senior lenders to invest into the construction of the central section of the Western High Speed Diameter in Saint Petersburg. VEB.RF extended a RUB25bn loan with more than 12 years maturity. The loan makes up to 50% of the syndicated loan in roubles extended in 2012.
The Western High Speed Diameter is one of the key road infrastructure public private partnership (PPP) projects.
This highway is crucial for Saint Petersburg: it will free the historic city centre from a significant number of transit vehicles. For Russia as a whole, the highway is a part of the international North–South land transport corridor and offers significantly greater mobility to the citizens of the Northwestern Federal District.
The length of the main section of the Western High Speed Diameter is 46.6 km, the total length is more than 70 km, including junctions and exit roads. The highway has from 4 to 8 lanes and 15 junctions. The new highway will free the historic city centre, the ring road and improve road traffic. Taking the new highway, motorists will able to cross the city in less than 20 minutes.
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