Prime Minister Vladimir Putin inspected the construction of the Western High-Speed Diameter motorway, the largest infrastructure project in St Petersburg
"The plan was to attract private investors to the project financing, but unfortunately, given the present economic conditions, private investors will not be available," Mr Putin told the workers.
"Therefore, we have decided to finance the project with federal funds for the next two years, to preserve the construction team and build the road," he added.
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The federal Government will allocate 6 billion roubles for the Western High-Speed Diameter project in 2009 and 14.6 billion roubles in 2010. The city of St Petersburg will provide another 6.6 billion over two years.
The Western High-Speed Diameter is the most important strategic investment project in St Petersburg, determining the city's development as a major global transport hub.
The Western High-Speed Diameter will be a toll highway for travelling at an estimated 120 km/h, with eight lanes for most of its length and multi-level directional interchanges, fitted out with cutting edge automated traffic control and communications equipment. Its maximum planned throughput capacity is 140,000 vehicles per day.
The total length of the road will be 48.9 km, with ramps accounting for 55% of the total length and ground road sections, for 45%.
The road will link together the city's major transport facilities.
The project is of federal importance, as it will ensure transport links to the Greater Port of St Petersburg.
