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Weekly Lists
October 19, 2018 www.intellinews.com I Page 24
bne:
Infrastructure
Russian government approves main infrastructure development plan
The Russian government has approved its main plan for transport and energy infrastructure development through to 2024, as an- nounced on October 11 by Minister of Transportation Yevgeny Dietrich. The plan is the backbone of massive six-year spending drive under the May Decree signed by President Vladimir Putin for his fourth non-consecutive term in office earlier this year.
Transport infrastructure investment of RUB6.3 trillion is detailed in the plan, out which RUB3 trillion will be financed by the federal budget, and the rest raised from private co-investors. The cost of the energy part of the plan has not been disclosed.
The RUB3 trillion from the federal budget is more than the previ- ously estimated RUB2.3 trillion ($35bn), which in turn, was almost double the initial estimate of RUB1.2 trillion. Russia's spending drive thus is already ballooning in cost, as in September a separate report suggested that the Digital Economy roadmap cost estimates also increased by over 60%.
Istanbul’s new airport will not open fully until the end of this year, Hurriyet Daily News reported on October 13, citing its general manager.
Prior to that, it will be given an official but only partial opening on October 29, marking the anniversary of the Turkish Republic’s proclamation in 1923, Kadri Samsunlu reportedly said.
Under President Recep Tayyip Erdogan, Turkey has seen a succes- sion of mega-infrastructure projects amid Turkey’s credit-fuelled boom and the airport, with an initial planned capacity of 90mn passengers a year that will make it one of the world’s biggest,
is supposed to be the crowning glory.
Two national roads will be rehabilitated with financing from China's Industrial and Commercial Bank (ICBC), Moldova's government an- nounced on October 17. The projects are estimated to cost €228mn and will be carried out by Chinese construction companies.
The works were contracted in advance. The ministry of economy and infrastructure has already signed a memorandum of understanding with a Chinese consortium formed by China Hyway Group Limited and Tianjin Oubaiwei Corp LTD, under which the consortium agreed “to assist Moldova in obtaining the financing for a period of up to 15 years under most favourable terms from ICBC,” Mold Street reported.
Full opening of Istanbul’s new airport delayed until end of year
China to reconstruct two roads in Moldova in €228mn project