LSR Group to construct tram network in St. Petersburg

WCN Editorial Team 2 Jun 2016 ASIA, EUROPE TRANSPORT INFRASTRUCTURE

Russian real estate development company LSR Group has begun construction on  a new tram network in Krasnogvardeysky, St. Petersburg.


The corresponding concession agreement was inked between the government of Saint Petersburg and Transportnaya Kontsessionnaya Kompaniya, a joint venture of LSR Group and Leader Investment Company.

The overall project, including the upgrading of existing lines and the construction of a new tram network and its operation over the period of 30 years, is expected to cost RUB32.7bn ($488.6M).

In particular, the construction and maintenance of the tram network will require an investment of RUB12.7bn ($189.7M).

Construction work is expected to be complete in the fourth quarter of 2018.

* For more information on the Russia construction market, visit the Construction Intelligence Center Report Store.

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