ExpoForum will finance the project design of new city streets
ExpoForum jsc signed an agreement with the St. Petersburg city government, marking the first time that a private company initiated and paid for the design of new transport infrastructure, covering 500 hectares. This decision was made today at a city hall meeting chaired by St Petersburg vice-governor Alexei Sergeev.
ExpoForum is building a new international convention and exhibition complex on the Petersburg Highway, near Pulkovo Airport, and the company is very interested in the development of the engineering and transport infrastructure in the immediate vicinity.
In order to guarantee proper access to the convention center, it is necessary to widen the Petersburg Highway to 4 lanes, and in some places to 6 lanes. Also, three interchanges will be built, and the neighboring roads will be improved. ExpoForum jsc is ordering and covering the costs of this project’s design stage, and it signed a contract with Inzhtekhnologiya ltd. The design stage of the project will be completed by the end of 2010, and the necessary state approvals will be made. The city government will carry out the project, including it in the investment programme for 2011.
Gazenergoprombank Development jsc, the main shareholder in ExpoForum jsc, concluded its purchase of 25 percent of Lenexpo jsc...