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Chinese investors are ready to invest in metro construction in St. Petersburg

Chinese investors can invest in metro construction in St. Petersburg. Business interests spread to the four stations of Pravoberezhnaya line: «Gavan», «Morskoy facade», «Novokrestovskaya-2″ and «Lahta». Capitalization of the project will be $1.1 billion. Experts believe that in the current economic situation, only foreign investors are able to invest in projects of this scale, but it will be difficult to recoup the investments of Chinese companies because of low traffic at promising stations.

According to the received information, the initiator of the project is CJSC «Investment. Engineering. Construction» (IEC, 30% owned by Gleb Evtushenko, the other partners are not disclosed), previously carrying out the design and survey works for creation of reclaimed land to the West from the stadium on Krestovsky island. The company said that it is the construction of four stations orange branch: «Gavan», «Morskoy facade», «Novokrestovskaya-2″ and «Lahta».

As reported by IEC source, several private companies are ready to invest to the extension of the metro line with the participation of the export-import Bank of China. The total capitalization of the project will be $1.1 billion. Feasibility study is preparing, which until the end of 2016 is planned to be presented in Smolny. Surveying and pre-design are prepared by the JSC «NIPI Lenmetrogiprotrans»».

«We can’t tell which part of the funds will be held by Chinese investors. It is planned that they will also be able to offer their competence in the part of the machines and equipment. We also count on support from the Federal authorities,» the company said. Investors expect to recover their investments due to the tariff and use of commercial objects: rolling stock and commercial space in the lobbies. IEC refused to disclose the name of the Chinese companies willing to invest in the construction of the subway.

Investment Committee reported that several years ago the city administration considered the possibility of bringing in private investors to the construction of the metro, but it was impossible, including from-for norms of the Federal law «On subsoil», prohibiting direct participation of private capital in the construction of the metro.

However, a partner at law company Maxima Legal, Vladimir Kilinkarov noted that Federal Law «On concession agreements» allows to invest in facilities of underground. «In the law the possibility of implementing projects for metro facilities is specified directly. The mechanism is that the investor is obliged to build the necessary infrastructure, then he can hold the connection of the site to the entire branch may as well as reconstruction of the existing branches. Then the ownership of all infrastructure will occur to the city, and the investor receives in operation for a period of usually not less than 15 years of individual objects, for example, lobbies and rolling stock,» he says.