Value of all St. Petersburg transport projects totals $10 billion – Transport-and-Transit Policy Committee

Total value of all transport project being implemented in St. Petersburg makes some $10 billion, PortNews IAA learnt from Nikolai Asaul, Chairman of St. Petersburg Transport-and-Transit Policy Committee, at the second transport-and-logistics conference ProLOG-2007. According to Asaul, the city is Russia’s leader in terms of investments into the development of the transport-and logistics complex. However, the city's lost profit caused by sluggish demand for the services of transport-and logistics complex because of its poor state makes $2.5 billion per year. Asaul attributes the difficulties mainly to insufficient coordination in development of different types of transport, road network and terminal-warehouse business as well as inconsistence of investment programs and managerial decisions of state and business authorities. Besides, Asaul notes that transport infrastructure is used to its full capacity today.