VEB.RF Provides Financing for Transport Infrastructure Construction in Saratov

VEB.RF has provided one more tranche of 114.1 million roubles for the modernisation of urban electric transport in Saratov. In total, VEB.RF allocated 676 million roubles for the Saratov project. The financing is intended as upfront payments due to general contractors for construction and installation. It is intended that all work will be completed for No. 6, No. 8 and No. 9 trams by December 2024.

The Saratov project includes the construction and rehabilitation of four tram routes with a total length of 67 kilometres. The total project budget is 17.3 billion roubles, with VEB.RF’s commitment of 10.8 billion roubles.

The modernisation involves rehabilitating 11 traction substations and building a flyover to carry trams over a railway. City dwellers and visitors will receive not only renewed infrastructure, but also new tram stops, lighting systems, landscaped areas and storm drains.

Promoting urban electric public transport in Russian cities is high on VEB.RF’s list of priorities. These projects make it possible to bring about substantial improvements in quality of life in cities. The use of exclusively domestic production solutions and processes delivers a significant multiplying effect in a whole range of economic sectors.

The Saratov Region is on the list of participants in the comprehensive development programme for electric transport. Russian Deputy Prime Minister Dmitry Grigorenko was appointed to oversee the programme on behalf of the government. VEB.RF acts as the programme’s financier, project office and coordinator. The programme provides both non-repayable federal co-financing and soft lending from VEB.RF and Russia’s National Wealth Fund. The total value of the programme is 252 billion roubles.

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