Investments into Saint Petersburg ring road to make 23.6 billion rubles in 2007
The amount invested into construction of Saint Petersburg ring road is to make 23.6 billion rubles in 2007, RBC reports with reference to Boris Murashov, head of the Direction on construction of St. Petersburg Bypass. In 2006 investments into Saint Petersburg ring road amounted to 17.1 billion rubles allocated from federal budget. Besides, European Band for reconstruction and Development granted a credit to a total amount of 1 billion rubles. According to Murashov, the first phase of Saint Petersburg ring road was built with saving of 2.5 billion rubles, while the second phase will save 1.5 billion rubles. Murashov attributes decreased financing of the project to economizing on tenders and to efficient engineering solutions.