€ 5 billion ring road win
By Chris Sleight16 June 2008
A consortium led by Strabag has won the € 5 billion contract to build and operate a new eight-lane 46,6 km ring road around St Petersburg, Russia. The construction phase is expected to run from 2009 to 2014, but details of the concession agreement are still to be negotiated.
Besides Strabag, the WHSD-Nevskij Meridian consortium includes Bouygues, Hochtief PPP Solutions, French PPP specialist Egis Projects, Russian construction company Mostoodryad No.19 and the Russian industrial conglomerate Basic Element, owned by Oleg Deripaska.
Commenting on the contract win, Strabag chairman Dr Hans Peter Haselsteiner said, "The Western High-Speed Diameter is the largest and at this time most important infrastructure project in Russia. The fact that the STRABAG-led consortium succeeded in winning this order shows the excellent market position of STRABAG in Russia."