Rosmorrechflot to attract investments for Volgo-Balt reconstruction
Russia’s Federal Agency of Sea and River Transport (Rosmorrechflot) plans to attract investments from RF Investment Fund for reconstruction of Volga-Baltic waterway, Alexander Davydenko, head of Rosmorrechflot, told yesterday at the meeting of the Marine Council under Saint Petersburg Government, the correspondent of PortNews IAA reports. Preliminary project of Volgo-Balt reconstruction has been already approved by Transport Ministry and Ministry of Economic development. “We are going act as initiators of this project and provide it for consideration of the expert council,” Davydenko said.
The reconstruction is said to be costing at least RUR 12 billion. The expert council is to receive the documents in the first quarter of 2007. In case of positive decision the Fund’s investment will cover half of the project’s value. The rest is to be covered by private investors.
A tender for detailed project development is to be announced in the nearest future. Davydenko says it may be won by Saint Petersburg University of Water Communications.
Volgo-Balt (Volga-Baltic waterway) is one of the most significant water routes comprising integrated deep-water system of inland waterways of Russia’s European part. It is a complex of engineering facilities uniting 4900 kilometers of operated waterways including 3270 kilometers with guaranteed dimensions, 11 locks with water lift from 11 to 18 meters, three water-power stations, 25 earth dikes and dams, 12 ferry crossings, 9 bridge crossings, 8 lighthouses in the Ladoga lake, over 5000 signs of navigation situation, 273 units of service fleet.