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VEB.RF Provides Financing for Street Lighting Modernisation in Chita

24 september 2024 года
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VEB.RF has provided financing for a project to modernise street lighting in Chita. The first tranche was disbursed in the amount of 767.7 million roubles. Implemented under the Far Eastern Concession programme, the project uses concessional financing provided by VEB.RF under high-priority projects for the Far East and the Arctic as resolved by the Presidium of the Government Commission on the Socio-economic Development of the Far East.

In addition to 984.3 million roubles borrowed on market terms, the project will receive a soft loan of 590.6 million roubles from VEB.RF through the Ministry for the Development of the Russian Far East and Arctic. The total project value is estimated at 1.9 billion roubles.

VEB.RF and Boos Lighting Group (BL Group) work together on modernising public street lighting in Russian cities. With financial support from VEB.RF, street lighting systems were upgraded in Volgograd and Nizhny Novgorod. VEB.RF committed a total of 697 million roubles under the projects.

Efforts to improve quality of life, including contributing to city development (transport infrastructure, public utility facilities, people-friendly urban environments), are high on VEB.RF’s agenda.

Street lighting is a key element of a comfortable urban environment. Modern light fittings improve safety in vehicular and pedestrian areas. According to Russian and foreign studies, high-quality road lighting helps to reduce the number of traffic accidents by 30 per cent and the number of deaths from traffic injuries by half. Apart from that, lighting control systems are also an important tool for bringing down urban electricity costs: new technology and modern software have allowed cities to save up to 70 per cent of electricity used for street lighting. Additionally, new architectural design solutions in the street lighting modernisation projects improve the visual quality of urban landscapes.

The Chita project will increase the illumination level in the city’s public spaces to 100 per cent, compared with the current maximum of 60 per cent in the case of streets and 0 per cent in the case of yards. For this purpose, the project involves the construction of 3,456 outdoor luminaires and 257 kilometres of power lines and the retrofitting of 12,600 units of obsolete equipment. The use of energy-efficient lighting systems will save up to 39 per cent of electricity.
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